Metaplanet Bought Bitcoin- Tokyo Based Metaplanet Buys 20.2 BTC, Boosting Treasury Strategy
Metaplanet bought Bitcoin– Metaplanet (3350), a publicly traded Japanese investment advisor, announced that it has purchased over 20.2 bitcoins (BTC) as part of a $6 million strategy to increase its BTC holdings in the treasury. The Tokyo-based company stated on its website that it bought 200 million yen ($1.2 million) worth of bitcoin, bringing its total holdings to 161.3 BTC. It promptly posted a statement about the purchase on its social media account shortly after the Tokyo Stock Exchange closed for trading.
A week ago, the company had announced its intention to further increase its bitcoin holdings with an additional $6 million purchase. At that time, it already owned $9 million worth of the world’s largest cryptocurrency by market capitalization. Metaplanet’s focus on bitcoin was driven by shifts in the investment landscape due to the Covid-19 pandemic, as indicated on its website.
The strategy of accumulating bitcoin mirrors that of MicroStrategy, a software developer based in Tysons Corner, Virginia, which has been buying BTC for nearly four years and now holds over 226,000 BTC, more than 1% of the total number of bitcoins that will ever be issued.
Metaplanet’s BTC Acquisition Drive and Market Response
- Metaplanet (3350) is a publicly listed Japanese investment advisor.The company is implementing a $6 million strategy to increase its Bitcoin (BTC) holdings in its treasury.
- With the recent purchase, Metaplanet now holds a total of 161.3 BTC.
- The purchase announcement was made on social media shortly after the Tokyo Stock Exchange closed.
- A week prior, the company announced plans to further increase its BTC holdings with an additional $6 million purchase.
- Metaplanet’s focus on Bitcoin is influenced by changes in the investment environment due to the Covid-19 pandemic.
FAQs
What is the significance of Metaplanet expanding its Bitcoin holdings to 161.3 BTC?
Metaplanet’s expansion of its Bitcoin holdings to 161.3 BTC reflects its strategic initiative to increase exposure to cryptocurrencies as part of its treasury management strategy.
Why did Metaplanet choose to increase its Bitcoin holdings?
Metaplanet aims to capitalize on the potential growth and stability offered by Bitcoin amidst evolving market conditions, influenced in part by global economic shifts and the Covid-19 pandemic.
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