Burn

Bitcoin

Million

Drops

Japanese investment firm Metaplanet has announced a significant increase in its Bitcoin holdings by purchasing an additional 57.1 BTC worth approximately $3.3 million. The move brings the company’s total Bitcoin holdings to 303,095 BTC.
<h2 id="japan-s-metaplanet-increases-bitcoin-holdings-with-3-3-million-acquisition">Japan’s Metaplanet Increases Bitcoin Holdings with $3.3 Million Acquisition</h2>
The Tokyo-listed firm said the latest acquisition was funded by a 500 million yen ($3.3 million) investment secured by a $6.8 million loan it received last week. Metaplanet plans to allocate a significant portion of that loan to further Bitcoin purchases.
Metaplanet's shares closed down 5.8% at 1,121 yen on Tuesday, after a remarkable 600% surge earlier this year.
Related News: <a href="https://en.bitcoinsistemi.com/ethereum-networks-daily-eth-burn-rate-drops-to-its-lowest-level-this-year-what-does-it-mean-here-are-the-details/" target="_blank" rel="noopener noreferrer nofollow">Ethereum Network's Daily ETH Burn Rate Drops to Its Lowest Level This Year! What Does It Mean? Here Are the Details</a>
The stock peaked at 3,000 yen on July 24. In comparison, the Nikkei 225 index gained 3.45% at the close of trading today.
Metaplanet CEO Simon Gerovich expressed the firm’s continued commitment to Bitcoin in a post published on X: “We will always be hoarding Bitcoin.”
In May, Metaplanet announced a strategic shift by adopting Bitcoin as a core treasury reserve asset in response to economic pressures in Japan, including high government debt, persistent negative real interest rates, and a weakening yen.
This strategy reflects the company's bullish stance on bitcoin and its role as a hedge against economic instability.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/japanese-investment-firm-metaplanet-continues-to-buy-bitcoin-heres-its-latest-bitcoin-move/" rel="noopener noreferrer nofollow">Japanese Investment Firm Metaplanet Continues to Buy Bitcoin! Here's Its Latest Bitcoin Move!</a>

Japanese Investment Firm Metaplanet Continues to Buy Bitcoin! Here's Its Latest Bitcoin Move!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Aug 13, 2024

Future of Interoperability with MoonTON

Bad News for Binance US from the Court! US Court of Appeals Overturns Decision on This Altcoin!

Is Bitcoin Price Breakout In Sight As It Returns to Previous Cycles?

Weekly Article Recap: 7/29-8/02

Do Kwon to be Extradited to South Korea: Montenegro Court Upholds Decision

Weekly Article Recap: 8/05-8/09

Join our free newsletter for daily crypto updates!