This week, two publicly listed Asian firms, Metaplanet and Blockchain Group, made headlines with their large Bitcoin purchases, highlighting the growing trend of publicly traded companies adopting Bitcoin as a treasury asset.
Major Bitcoin Purchases by Metaplanet and Blockchain Group
Metaplanet, a Tokyo-listed investment firm, announced the acquisition of 2,205 BTC for $238.7 million, raising its total to 15,555 BTC, making it the fifth-largest corporate Bitcoin holder in the world. Blockchain Group, listed in Paris, also revealed the purchase of 116 BTC for €10.7 million ($11.5 million), increasing its reserves to 1,904 BTC.
Accounting Strategy and Treasury Management
Both companies consider Bitcoin a long-term reserve asset, listing it as a non-current asset on their balance sheets. Acquisitions are financed through equity or debt issuance. Metaplanet has developed a specialized tool "BTC Yield" to measure added value per share, separating the impact of treasury actions from share dilution. Blockchain Group tracks a similar metric, emphasizing Bitcoin's contribution to shareholder value.
Trends in Corporate Demand for Bitcoin
The Bitcoin purchasing frenzy is not limited to these two firms. Globally, public companies now hold over 725,000 BTC, indicating a 135% increase year-on-year, driven by Europe and Asia. Experts note that while the trend is positive, smaller firms need to manage risks very cautiously, especially if BTC prices become unstable.
The growing interest in Bitcoin among large corporations may lead to a significant transformation in the corporate finance landscape, with implications for other markets and sectors.
