Metaplanet Adopts “BTC Yield” to Evaluate Performance of its Bitcoin Purchases

Japanese investment firm Metaplanet has adopted a new performance metric called BTC Yield to evaluate its growing Bitcoin holdings. 

The metric measures the percentage change in the ratio between a company’s total Bitcoin holdings and fully diluted shares, offering investors insight into the potential returns on a firm’s Bitcoin acquisitions.

The strategy is pioneered by MicroStrategy, a U.S. company that has grown to be the largest corporate holder of Bitcoin with 252,220 BTC.

Metaplanet Adopts BTC Yield as a Key Performance Indicator

The Tokyo-based firm plans to disclose its BTC Yield alongside each Bitcoin purchase, providing updates on total holdings, issued shares, and Bitcoin per fully diluted share on a quarter-to-date and year-to-date basis. 

This move is aimed at ensuring transparency and providing insights into the company’s Bitcoin acquisition strategy. 

“Metaplanet has adopted BTC Yield as a key performance indicator (KPI) to assess the performance of its Bitcoin acquisition strategy. This KPI, pioneered by MicroStrategy, will help investors better understand how Metaplanet’s approach to acquiring Bitcoin using equity capital is accretive to shareholders,” Metaplanet CEO Simon Gerovich said in an X post. 

By adopting this strategy, Metaplanet signals strong confidence in Bitcoin’s future, aiming to strengthen its role in the crypto market.

While BTC Yield offers a clear view of the company’s Bitcoin-to-share ratio, the firm acknowledges its limitations. Metaplanet has cautioned investors that it should not be seen as a measure of profitability or liquidity.  The firm also noted that the market price of its shares may not always reflect the value of its Bitcoin holdings. 

Metaplanet’s BTC Yield Soars 116.4%

According to the latest disclosure, Metaplanet’s BTC Yield reached an impressive 116.4% in October. This is a notable increase from the 41.7% recorded between July 1 and Sept. 30. The company attributes this significant surge to a substantial increase in Bitcoin holdings, which more than doubled during the recent quarter. 

Ever since Metaplanet adopted Bitcoin as a reserve asset to help hedge against the volatility of the Japanese yen in May, the firm has accumulated 855.478 BTC worth approximately $57.6 million at current market value.