Metaplanet Ramps up its Bitcoin Holdings

The most recent market dip that caused Bitcoin to lose almost $20k off of its price per coin has ignited apprehension among investors, fearing that the November 2024 bull run may finally be over.

Japanese investment firm Metaplanet has purchased another 2 billion Yen in Bitcoin (BTC) today, December 12.

The Japanese firm bought 150 BTC at an average estimated cost of $83,508 per Bitcoin. The purchase is equivalent to around $13.4 million in United States Dollars.

Metaplanet issued bonds to raise 2 billion yen, or roughly $13.3 million, in order to fund the latest Bitcoin acquisition. As of now, the company owns 3,300 BTC—one of the largest Bitcoin holdings among publicly traded companies.

However, this amount does not mean that Metaplanet is planning to slow down its BTC purchases. The company plans to end the year owning 10,000 BTC and later plans to achieve a holding of 21,000 BTC by the end of 2026.

Earlier this year, Metaplanet began its journey to accumulate a large Bitcoin treasury. In January, the company announced an investment of 1 billion yen to acquire an undisclosed amount of BTC.

Then, in March, Metaplanet made a significant purchase of 1,000 BTC at an estimated cost of $76 million. This purchase was part of the company’s broader strategy to invest in crypto assets.

The post Metaplanet ramps up its Bitcoin holdings with another 2 Billion Yen purchase appeared first on Token Post.

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Here's a summary of the latest developments in the crypto market.

* Japanese investment firm Metaplanet has acquired another 2 billion Yen in Bitcoin (BTC).

* The Japanese firm purchased 150 BTC at an average estimated cost of $83,508. The purchase is equivalent to around $13.4 million in United States Dollars.

* Metaplanet issued bonds to raise 2 billion yen, or roughly $13.3 million, in order to fund the latest Bitcoin acquisition. As of now, the company owns 3,300 BTC, the 12th largest holdings among public companies.

* However, this amount does not mean that Metaplanet is planning to slow down its BTC purchases. The company plans to end the year owning 10,000 BTC and later plans to achieve a holding of 21,000 BTC by the end of 2026.

Japanese investment firm Metaplanet has announced the acquisition of 150 Bitcoin (BTC) in a recent move to expand its digital asset portfolio.

The latest purchase, which was disclosed in a statement on Thursday, brings the total BTC holdings of the publicly-listed company to an estimated 3,300. At an average price of $83,508 per BTC at the time of purchase, the investment is valued at approximately $13.4 million.

To fund the latest acquisition, Metaplanet has issued bonds to raise 2 billion yen, or roughly $13.3 million.

According to data from Bitcoin Treasury, Metaplanet is now the 12th largest holder of Bitcoin among publicly traded companies. It is also one of the few companies in Japan to invest heavily in cryptocurrencies.

Earlier this year, Metaplanet began its journey to accumulate a large Bitcoin treasury. In January, the company announced an investment of 1 billion yen to acquire an undisclosed amount of BTC.

Then, in March, Metaplanet made a significant purchase of 1,000 BTC at an estimated cost of $76 million. This purchase was part of the company’s broader strategy to invest in crypto assets.

As the price of Bitcoin continues to rise, more and more institutional investors are turning to the world’s largest cryptocurrency as a hedge against inflation and a store of value.

With its strong interest in Bitcoin and other digital assets, Metaplanet is well-positioned to capitalize on the growing institutional demand for cryptocurrencies.

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