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<p>Tokyo-listed Metaplanet has once again expanded its&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/15/marathon-digitals-249m-btc-buy-what-next-for-bitcoin-price/">Bitcoin (BTC)</a>&nbsp;reserves, making headlines with a ¥500 million acquisition that sent its stock up 13%, according to Yahoo Finance&nbsp;<a href="https://finance.yahoo.com/quote/3350.T/">data</a>. This latest purchase adds 57.273 BTC to his holdings, bringing the total to 360.368 BTC.</p> 
<p>Metaplanet’s bold move comes at a time when traditional financial assets are under pressure, with Bitcoin’s interest as a hedge against currency manipulation growing.</p> 
<h2 class="wp-block-heading" id="h-expanding-bitcoin-reserves"><strong>Expanding Bitcoin Reserves</strong></h2> 
<p>On August 20, 2024, Metaplanet disclosed its latest acquisition: buying 57.273 BTC for ¥500 million ($3.4 million). Metaplanet’s recent acquisition is part of a broader strategy to bolster its Bitcoin repository. The company continues to raise BTC, using a ¥1 billion loan from MMXX Ventures to finance the acquisition.</p> 
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   <p lang="en" dir="ltr">.<a href="https://twitter.com/Metaplanet_JP?ref_src=twsrc%5Etfw">@Metaplanet_JP</a> has purchased an additional ~57.273 <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> for ¥500 million at an average price of ¥8,730,117 per <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. As of August 20, Metaplanet holds ~360.368 bitcoin acquired for ¥3.45 billion at an average price of ¥9,573,556 per <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. <a href="https://twitter.com/hashtag/%E3%83%A1%E3%82%BF%E3%83%97%E3%83%A9%E3%83%8D%E3%83%83%E3%83%88?src=hash&amp;ref_src=twsrc%5Etfw">#メタプラネット</a> <a href="https://t.co/eIJG33xZBK">pic.twitter.com/eIJG33xZBK</a></p>— Simon Gerovich (@gerovich) <a href="https://twitter.com/gerovich/status/1825688778414891228?ref_src=twsrc%5Etfw">August 20, 2024</a>
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<p>Just last week, as reported by the Coin Republic<a href="https://www.thecoinrepublic.com/2024/08/13/asias-microstrategy-metaplanet-scoops-more-bitcoin-assessing-market-impact/">, Metaplanet made a ¥500 million purchase</a>, and with this latest acquisition, it has now fully utilized the loan. The decision to double down on Bitcoin reflects the company’s confidence in the long-term potential of the digital asset, especially in the face of Japan’s economic challenges.</p> 
<p>The market reacted positively to the news of Metaplanet’s Bitcoin acquisition, with shares jumping 14% after the announcement. This increase underscores investor confidence in the company’s strategy and commitment to Bitcoin as a core banking asset.</p> 
<p>Metaplanet’s transition to Bitcoin is part of an extensive diversification program that includes advisory roles in Bitcoin adoption, real estate development and finance Initially focused on hotel development, the company has redefined its business model to suit changing economic conditions.</p> 
<p>This pivot not only reinvigorated the company’s approach but established it as a leader in the growing trend of corporate Bitcoin adoption.</p> 
<h2 class="wp-block-heading" id="h-what-s-driving-metaplanet-s-buying-spree"><strong>What’s Driving Metaplanet’s Buying Spree?</strong></h2> 
<p>Metaplanet’s recent Bitcoin buying spree is far from a mere gamble; it’s a strategic response to&nbsp;<a href="https://www.thecoinrepublic.com/2024/04/27/bitcoin-a-ray-of-hope-for-japan-amid-yens-historic-collapse/">Japan’s challenging economic environment</a>, marked by a weakening yen and mounting government debt.</p> 
<p>Chief executive Simon Gerovich has openly admitted that Metaplanet was becoming a “zombie company”, struggling to meet its financial obligations. This led Gerovich to switch to a more complex financial system, with Bitcoin at its core.</p> 
<p>The firm’s outlook is heavily influenced by Japan’s upcoming public debt, which could reach $11.224 trillion by 2029. For Metaplanet, Bitcoin is more than just an investment—it’s an important hedge against traditional financial uncertainty.</p> 
<p>In line with this change, Metaplanet has expanded its services to include Bitcoin redemption advice, real estate and investments. This strategic move not only revitalized the company but established it as a leader among companies adopting Bitcoin.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/20/metaplanets-6-8-million-bitcoin-deal-spurs-13-stock-rally/">Metaplanet’s $6.8 Million Bitcoin Deal Spurs 13% Stock Rally</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Metaplanet’s $6.8 Million Bitcoin Deal Spurs 13% Stock Rally

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