The Japanese investment firm acquired an additional 108.78 BTC on October 7, bringing its total Bitcoin reserve to nearly 640 BTC, now valued at approximately 40.5 million USD.
This transaction caused the company's stock to surge by more than 10%. Metaplanet is often compared to the U.S.-based company MicroStrategy for its bold approach to accumulating Bitcoin. Over the past week alone, Metaplanet has added 215 BTC to its reserves, including a transaction on October 1 for 107.91 BTC.
On October 7, Metaplanet's stock increased by more than 11%, reaching a high of 1,047 Japanese yen (around 7 USD). Since it adopted Bitcoin as a strategic reserve asset in May 2024, its stock price has tripled, showing an impressive year-to-date growth of over 532%.
Additionally, on October 3, Metaplanet sold 223 Bitcoin put options with a strike price of 62,000 USD, resulting in a gain of 23.97 BTC, worth around 1.46 million USD.
CEO Simon Gerovich commented that this strategy allows Metaplanet to grow its Bitcoin reserves without increasing financial risk. In early September, the company also partnered with SBI Holdings to enhance its cryptocurrency trading and management capabilities.
