Metaplanet continues to bet big on Bitcoin. The Japanese company has indeed just purchased 107 additional BTC. This investment brings his Bitcoin holdings to 506 BTC, worth $32 million.
Metaplanet increases its BTC reserves
Listed in Tokyo, the company Metaplanet recently made headlines by purchasing 107.9 additional bitcoins for an amount of approximately $6.9 million. This purchase, made at an average price of $64,168 per Bitcoin, illustrates the company's confidence in this digital asset (despite the recent volatility of the crypto market).
Since the start of its accumulation strategy in May, Metaplanet has invested 4.75 billion yen to acquire more than 506 BTC. This initiative is part of a strategy aimed at making Bitcoin a strategic cash reserve. At the same time, other companies (such as MicroStrategy) have also accumulated thousands of BTC.
Why is Metaplanet banking on Bitcoin?
Metaplanet's choice to increase its BTC reserves comes despite a slight drop in the price of the flagship crypto over the last 24 hours. At the time of writing, Bitcoin is indeed trading around $64,000.
Concretely, Metaplanet sees the potential of Bitcoin as a safe haven asset in the face of economic uncertainty. With a market still volatile, this institutional investor seems to favor a long-term vision by accumulating BTC. A strategy perceived by some as a bold bet, but potentially lucrative if the crypto market returns to an upward trend.
With this investment, Metaplanet joins other major bitcoin holders. We cite in particular:
- MicroStrategy which holds 252,220 BTC,
- Marathon Digital with 26,200 BTC.
For Metaplanet, the objective is clear: to strengthen its position in the crypto market, with the hope of a substantial return on investment.
In any case, Metaplanet's bet on Bitcoin shows a strong conviction in the future of this digital asset. It remains to be seen whether this bold choice will bear fruit in the long term!
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