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Metaplanet Inc. Bitcoin Holdings Explode to $66M After Major Stock Sale

Published by
Qadir AK

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?

Qadir AK

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.

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