March 5 Crypto News – Metaplanet’s Bold Bitcoin Strategy: 2,888 BTC and Counting
March 5 Crypto News – Metaplanet, a Japanese investment firm, has continued its aggressive bitcoin acquisition strategy by purchasing an additional 497 BTC for a total of $43.9 million. This recent acquisition increases its total holdings to 2,888 BTC, with an average purchase price of $88,448 per bitcoin.
Metaplanet’s Growing Bitcoin Portfolio
Since adopting its bitcoin accumulation strategy in April 2024, Metaplanet has been steadily increasing its cryptocurrency holdings. The company revealed that its total bitcoin holdings, now valued at $251 million, were acquired for a total of $240.2 million at an average price of $83,172 per bitcoin. This has resulted in paper profits, with the current market value reflecting a 4.73% increase in the value of their holdings.
Recent Acquisitions and Stock Performance
Just two days prior, Metaplanet had purchased an additional 156 BTC for $13.4 million, continuing its bitcoin buying spree. The company’s focus on building a significant bitcoin treasury was formalized in December when it designated its bitcoin operations as a core business line. Metaplanet has set ambitious goals, aiming to acquire 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
Metaplanet’s recent purchases and strategic moves have had a noticeable impact on its stock, which rose by 17% on Wednesday in Japan. In comparison, the Nikkei 225 index has increased by 0.55% on the same day, showcasing the positive sentiment surrounding the firm’s bitcoin investment strategy.
Bitcoin Price Surge and Market Impact
The latest acquisition comes as bitcoin prices saw a notable surge, gaining 4% over the past 24 hours. At the time of writing, bitcoin is trading at $86,943, reflecting strong market demand and investor confidence.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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