Metaplanet has solidified its position as one of Bitcoin’s largest corporate holders in the world, surpassing the 30,000 BTC mark after a series of aggressive purchases.
On October 1, the Tokyo-based company revealed that it had added 5,268 BTC to its balance sheet at an average price of $116,870, and spent about $616 million. The deal took place less than two weeks after the acquisition of 5,419 BTC in late September. This is the biggest single purchase.
Together, the successive movement boosted Metaplanet’s total holdings to 30,823 BTC, accumulating an average cost of $107,912.
The latest tally represents a dramatic expansion of the company’s initial vision, starting with a target of 10,000 BTC and then increased to 30,000.
With the milestone already exceeded, Metaplanet sits above the Bitcoin Standard Treasury Department in the rankings, holding the fourth largest company storage in the world.
Double your revenue forecast
Metaplanet’s aggressive Treasury accumulation is consistent with revenue side growth.
The company reported that Bitcoin’s income generation squad had generated 2.44 billion yen (~$16.5 million) in revenue for the third quarter, an increase of 115.7% from the previous quarter.
Taking advantage of this momentum, management has doubled its full-year revenue forecast from 3.4 billion yen ($23 million) to 6.8 billion yen (~$46 million). The operating profit forecast was revised upward from 2.5 billion yen ($17 million) to 4.7 billion yen (~$32 million), showing an 88% increase from previous estimates.
Metaplanet President Simon Gerovich said:
“The Q3 results demonstrate operational scalability and strengthen the financial foundation for planned Metaplanet Preferred Stock Issuance, which supports a broader Bitcoin financial strategy.”
Institutional benefits rise
Meanwhile, the company’s aggressive accumulation and strong financial performance have attracted the attention of global asset managers.
Last week, Gerovich revealed that Capital Group, a US company that oversees $2.6 trillion in assets, has become Maplanet’s largest shareholder and has overtaken National Financial Services.
According to Gerovich, the company owns 11.45% of Metaplanet stake, valued at around $500 million.
Metaplanet’s top 20 other investors include major US financial institutions such as Vanguard, JPMorgan, Citigroup and State Street.
These investments show that Metaplanet’s positioning as a central player in the wave of Bitcoin corporate adoption has attracted a great deal of interest from institutional investors.