Metaplanet CEO Simon Gerovich announced on Monday that the company acquired the 775 BTC at an average cost of $120,006 each. With this purchase, the company’s total Bitcoin holdings reached $1.94 billion, and the overall average cost rose to $102,653.

Gerovich shared on social media: “18,888 BTC. Forward and upward.”

Bitcoin Accumulation Strategy

Metaplanet has attracted attention with its Bitcoin accumulation strategy, launched in April 2024. According to Bitcointreasuries, the company currently ranks 7th globally in Bitcoin holdings.

In its Q2 report released last week, Metaplanet showed significant financial recovery:

• Total revenue rose 41% quarter-over-quarter, reaching ¥1.2 billion ($8.4 million).

• Net income turned from a $34.2 million loss in the previous quarter to a $75.1 million profit.

• The company confirmed its 2024 guidance of ¥3.4 billion in revenue and ¥2.5 billion in operating profit.

Gerovich noted that recurring cash-secured put premiums and operational growth have given the company additional flexibility, supporting new Bitcoin purchases.

Stock Movements

Metaplanet’s shares on the Tokyo Stock Exchange closed down 8.6% at ¥866 on Friday but recovered 0.6% by Monday midday.

Addressing investors, Gerovich stated:

“I understand the frustration during the recent pullback. Feeling this way is natural. But what gives us confidence is the foundation we’ve built.”

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