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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Oct 28, 2024 05:30 UTC
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Metaplanet Inc. Bitcoin Holdings Explode to $66M After Major Stock Sale
Metaplanet, a major Asian investor, has recently purchased 156.78 BTC, increasing its total Bitcoin holdings to over 1,000 BTC.
Metaplanet's significant Bitcoin investment is part of a broader strategy to capitalize on the growing cryptocurrency market.
The increasing adoption of Bitcoin by major institutional investors is driving the cryptocurrency's bullish momentum.
Metaplanet Inc. (Tokyo: 3350) is doubling down on its Bitcoin bet. Fresh off a major stock sale, the Tokyo-based tech firm has made another significant cryptocurrency purchase. The company acquired 156.78 Bitcoin (BTC) from the secondary market, shelling out ¥1.6 billion at an average price of around ¥10.2 million per coin.
With this latest purchase, Metaplanet’s Bitcoin holdings have reached a total of 1,018.17 BTC, now valued at more than ¥9.6 billion (over $66 million). According to CEO Simon Gerovich, this positions Metaplanet as one of the largest Bitcoin holders in Asia, enhancing its standing in the market. The move has also coincided with a recent surge in Metaplanet’s stock price, which rose 6.9% over the past 24 hours, trading around ¥1,147 in Monday’s early Asian session.
Yet again, Metaplanet proves to be a major player in the crypto world today! Here’s what else you should know.
Understanding the BTC Yield
Metaplanet has introduced “BTC Yield” as a new key performance indicator (KPI). This metric allows the company to measure the percentage change in its Bitcoin holdings relative to its fully diluted shares over a given period.
By using BTC Yield, Metaplanet aims to give investors a clearer view of how its Bitcoin investments are influencing overall shareholder value.
Embracing Bitcoin With Open Arms!
Institutional adoption of Bitcoin is helping to boost the asset’s long-term bullish outlook. MicroStrategy Inc. (NASDAQ: MSTR) has led the way, with its success inspiring other large firms to consider Bitcoin investments.
For example, Microsoft, with a market value over $3 trillion, is expected to hold a shareholder vote by year’s end to decide on potential Bitcoin investments. BlackRock, with more than $10 trillion in assets under management, has also shown strong interest, purchasing over $26 billion in Bitcoin following recent U.S. approvals of spot BTC ETFs.
With its latest investment, Metaplanet is making it clear: in the world of crypto, those who dare to lead will shape the future. Are you excited for what is to come?
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