Metaplanet disclosed that the company had reverted to increasing its holdings of bitcoin in the second quarter, following a moratorium on purchases since April. With Bitcoin back on its feet at $60,000, the company bought 2,823 new BTCs during the season, raising the total hold to 43,000 by 30 June.
2,823 new BTCs in the second quarter
According to the company, this increase is consistent with its Bitcoin Treasury strategy and is also related to the Bitcoin revenue business that was conducted in the second quarter. According to disclosure, the operation involved targeted build-up by selling Bitcoin options and generating revenue while increasing bitcoin openings.
- Add 2823 BTCs
- 43,000 BTC as at 30 June
- BTC Yield is 6.6%
Proceeds recorded 1.75 billion yen.
The company disclosed that the bitcoin revenue business recorded 175.0 billion yen in the second quarter. Taking into account this part of the income, the cost of effective acquisition of new bitcoin in this round is 34.14 billion yen, or the average purchase price of a single bitcoin is approximately 12.09 million yen.
This means that Metaplanet does not rely solely on off-the-shelf purchases for the expanded holding warehouse, but is also trying to reduce the overall holding costs through derivatives strategies associated with bitcoin.
Market focus on ETF and retail finance
On the market side, bitcoin rebounded on 2 July to the top of $60,000, rising at one point in the day to about $6.12 million, a clear rebound from the pressure zone near the previous $577 to $58,000. In June, the market was generally weak, with spot ETF funds outflows and risk preferences declining once to suppress price performance.
On the chain and in terms of transactional data, CriptoQuant Analyst Darkfost indicated that the average of recent daily transfers of less than one BTC wallet to Binance was approximately 329, which is significantly below the level of approximately 2,690 at the height of the cattle market in 2021. This reflects the fact that the return of retail money in the current round has remained limited.
Additional information:The BTC Yield referred to in the paper discloses the calibre of the company to measure the growth of its Bitcoin hold during the reporting period and is not a single market price increase.