Key Takeaways:
- Milestone Bitcoin Acquisition: Metaplanet now holds 1,018.17 BTC, solidifying its position as Asia’s second-largest corporate Bitcoin holder, trailing only China’s Boyaa Interactive.
- Strategic Shift: The firm adopted a “Bitcoin-first, Bitcoin-only” reserve policy, leading to significant stock price gains, with shares up over 500% this year.
- Long-term Commitment: CEO Simon Gerovich emphasized continuous investment in Bitcoin, hinting at further acquisitions.
Japanese investment firm Metaplanet has become Asia’s second-largest corporate Bitcoin holder, acquiring an additional 156.78 BTC to reach a total of 1,018.17 BTC, valued at around $68 million.
With an average purchase price of $61,629 per Bitcoin, this move aligns with Metaplanet’s strategy to use Bitcoin as its primary reserve asset amid economic pressures in Japan.
JUST IN: 🇯🇵 Metaplanet buys another ¥1.6 billion worth of #Bitcoin
— Bitcoin Magazine (@BitcoinMagazine) October 28, 2024
They now own over 1,000 BTC 🚀 pic.twitter.com/SYNhh9SAhG
CEO Simon Gerovich expressed the firm’s long-term commitment to Bitcoin, suggesting that further acquisitions are likely.
Metaplanet’s recent Bitcoin investment has boosted its stock, which saw a 16% increase following the purchase and a year-to-date surge of over 500%, now trading at approximately 1,150 JPY (about $7.5).
JUST IN: Japanese company @Metaplanet_JP stays humble and keeps stacking sats. They have purchased an additional 156.8 #BTC for ¥1.6 billion
— Simply Bitcoin (@SimplyBitcoinTV) October 28, 2024
As of October 28th, Metaplanet now holds 1,018 #BTC worth ¥9.6 billion, and the stock is up 6% today pic.twitter.com/l8uv3vr2OC
Despite speculation that Metaplanet might lead Bitcoin holdings in Asia, data from BitcoinTreasuries confirms that China’s Boyaa Interactive holds the top spot with 1,100 BTC.
Metaplanet’s strategy reflects a broader trend among Asian companies adopting cryptocurrency for financial stability and growth opportunities.
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