Metaplanet continues to bet big on Bitcoin. Indeed, the Japanese company just purchased 107 more BTC. This investment brings his Bitcoin holdings to 506 BTC, worth $32 million.
Tokyo-listed Metaplanet recently made headlines with a buyout 107.9 more 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).
It has invested ¥4.75 billion in Metaplanet since the start of its accumulation strategy in May get more than 506 BTC. This initiative is part of a strategy to make Bitcoin a strategic cash reserve. At the same time, other companies (like MicroStrategy) also accumulated thousands of BTC.
Metaplanet’s decision to increase its BTC reserves comes despite a slight drop in the price of the flagship cryptocurrency over the past 24 hours. Bitcoin is actually trading around $64,000 at the time of writing.
Specifically, Metaplanet sees Bitcoin’s potential as safe harbor asset in the face of economic uncertainty. With the market still volatile, this institutional investor seems to favor a long-term vision by accumulating BTC. A strategy that some consider a bold bet, but potentially lucrative if the crypto market returns to an uptrend.
With this investment, Metaplanet joins other major bitcoin holders. We cite in particular:
For Metaplanet, the goal is clear: to strengthen its position in the cryptocurrency market hope for a substantial return on investment.
In any case, Metaplanet’s bet on Bitcoin shows a strong belief in the future of this digital asset. Whether this bold choice will bear fruit in the long run remains to be seen!
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My name is Ariela and I am 31 years old. I have been working in the field of web development for 7 years. I only discovered trading and cryptocurrencies a few years ago. But it’s the universe that interests me a lot. And the topics covered within the platform allow me to learn more. A singer in my spare time, I also have a great passion for music and reading (and animals!)
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The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.