Metaplanet Doubles Down On Bitcoin: An Additional 107 BTC

Metaplanet continues to bet big on Bitcoin. The Japanese company has indeed just bought an additional 107 BTC. This investment brings its Bitcoin holdings to 506 BTC, worth $32 million.

🇯🇵 Metaplanet achete pour 1 milliard de yens supplémentaires de Bitcoin.

Ses avoirs Bitcoin s'élèvent désormais à 506,745 $BTC https://t.co/VPWr7mWo5s pic.twitter.com/HUpJwbbvlT

— Goku 🗞 (@Crypto__Goku) October 1, 2024

Metaplanet increases its BTC reserves

Listed in Tokyo, the company Metaplanet recently made headlines by purchasing an additional 107.9 bitcoins for 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 beginning 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 to make Bitcoin a strategic treasury reserve. At the same time, other companies (such as MicroStrategy) have also accumulated thousands of BTC.

Why is Metaplanet betting on Bitcoin?

Metaplanet\’s decision to increase its BTC reserves comes despite a slight drop in the price of the leading crypto over the past 24 hours. At the time of writing, Bitcoin is trading around $64,000.

Specifically, Metaplanet sees the potential of Bitcoin as a safe-haven asset in the face of economic uncertainty. With a still volatile market, 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. These include:

• MicroStrategy holding 252,220 BTC,
• Marathon Digital with 26,200 BTC.

For Metaplanet, the goal 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!