Bitcoin

Impact

<ul>
 <li>Metaplanet purchased 107.913 BTC, valued at ¥1 billion, increasing its total holdings to 506 BTC, worth $32 million.</li>  
 <li>Metaplanet’s stock surged 3.63%, closing at 1,027 yen, with a 540% year-to-date gain.</li>  
 <li>The firm partnered with SBI Group to enhance Bitcoin trading, focusing on compliant custody and leveraging tax efficiency.</li> 
</ul>  
<p>Metaplanet has expanded its Bitcoin holdings with a fresh purchase of 107.913 BTC, valued at ¥1 billion which is roughly $7 million. This development occurs as the <a href="https://cryptonewsland.com/bitcoin-closes-september-in-bullish-green-8/" target="_blank" rel="noopener noreferrer nofollow">crypto market starts Q4 on a high</a>, with investors watching for a possible Bitcoin surge.&nbsp;</p>  
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  https://twitter.com/Metaplanet_JP/status/1840954225796186287
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<p>Metaplanet currently has around 506 BTC in its possession, which amounts to $32 million at the current market rates.</p>  
<h2 class="wp-block-heading" id="h-metaplanet-consistent-bitcoin-strategy"><strong>Metaplanet Consistent Bitcoin Strategy</strong></h2>  
<p>The company has been following a strategy inspired by <a href="https://www.microstrategy.com/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy</a>, the US-based company known for its aggressive Bitcoin acquisitions. By adopting this approach, Metaplanet has consistently added to its Bitcoin reserves despite fluctuations in the market. The firm views Bitcoin as a key treasury asset, helping it navigate Japan’s ongoing economic challenges.</p>  
<p>Earlier in September, <a href="https://cryptonewsland.com/metaplanet-and-sbi-collaboration-set-to-accelerate-bitcoin-adoption-in-japan/" target="_blank" rel="noopener noreferrer nofollow">Metaplanet partnered with SBI Group’s</a> crypto investment arm to enhance its Bitcoin trading and custody services. This collaboration aims to ensure compliant corporate custody while leveraging tax efficiency and using Bitcoin as collateral.&nbsp;</p>  
<p>With Japan's tax environment becoming more favorable, the firm hopes to attract domestic investors to its Bitcoin-focused strategy.</p>  
<h2 class="wp-block-heading" id="h-impact-of-recent-purchase-on-market"><strong>Impact of Recent Purchase on Market</strong></h2>  
<p>Following the announcement of the recent Bitcoin acquisition, Metaplanet's stock price increased by 3.63%, closing at 1,027 yen. The stock has surged 540% this year.</p>  
<p>Despite the recent drop in Bitcoin prices, Metaplanet's steady purchase indicates the company's long-term confidence in bitcoin. Today's acquisition follows the Federal Reserve's rate cut in September, which restored market optimism regarding Bitcoin's future.</p>  
<p>Metaplanet's continued financial commitment to Bitcoin displays the company's belief in the cryptocurrency's value as a key asset. Metaplanet is in a strong position for future gains as the market gears up for a possible Bitcoin rally.</p> 
<p>The post <a href="https://cryptonewsland.com/metaplanet-continues-bitcoin-buying-spree-adds-107-btc-despite-market-fluctuations/" rel="noopener noreferrer nofollow">Metaplanet Continues Bitcoin Buying Spree, Adds 107 BTC Despite Market Fluctuations</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Metaplanet Continues Bitcoin Buying Spree, Adds 107 BTC Despite Market Fluctuations

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