bullish

Bitcoin

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Tokyo-listed investment firm Metaplanet Inc. announced earlier today a fresh purchase of 107.913 Bitcoin (BTC), valued at approximately 1 billion yen ($6.9 million). This significant acquisition reinforces the company’s growing confidence in Bitcoin as it integrates digital asset into its strategic financial framework. The <a href="https://thecoinrise.com/metaplanet-reveals-latest-plan-to-increase-its-bitcoin-holdings/" rel="noopener noreferrer nofollow">firm revealed its plans to increase its Bitcoin holdings</a> in September.&nbsp;
<h2 id="b-metaplanet-now-holds-32-2m-worth-of-bitcoin-b">Metaplanet Now Holds $32.2M Worth of Bitcoin</h2>
The purchase comes amid fluctuating crypto market prices. Yet Metaplanet remains steadfast in its bullish outlook on the world’s leading digital asset. The latest acquisition was made at an average price of 9.26 million yen, equivalent to $64,168 per Bitcoin. This brings Metaplanet’s total Bitcoin holdings to 506.745 BTC, now worth about $32.2 million at current market rates.&nbsp;
Since May, the firm has embraced Bitcoin as part of its strategic treasury reserve and has spent a total of 4.75 billion yen on digital assets. Reportedly, the firm has spent an average of 9.37 million yen, valued at $64,931 per coin.&nbsp;
Despite the market’s volatility, <a href="https://thecoinrise.com/japans-metaplanet-secures-6-8m-loan-to-boost-btc-holdings-amid-economic-uncertainty/" rel="noopener noreferrer nofollow">Metaplanet’s long-term confidence appears unshaken</a>. The firm made this latest purchase when Bitcoin dropped by 1.27% in the past 24 hours, trading at around $63,661. The virtual asset had recently climbed above $66,000, but fluctuations in price are common, especially with increased global attention on the digital coin. Bitcoin has been exchanging hands at $63,790, up by 0.16% in the last 24 hours, as per <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a> data.
<h2 id="b-metaplanet-btc-holdings-still-trails-behind-microstrategys-b">Metaplanet BTC Holdings Still Trails Behind MicroStrategys’</h2>
Metaplanet’s buying spree reflects a growing trend among institutional investors. Market participants turn to Bitcoin as a hedge against economic uncertainty and inflation. The firm is positioning itself to benefit from long-term appreciation. At the same time, <a href="https://thecoinrise.com/metaplanet-teams-up-with-sbi-vc-trade-for-bitcoin-management/" rel="noopener noreferrer nofollow">navigating the inherent risks of a volatile market as it manages its assets.&nbsp;</a>
Metaplanet, however, is still dwarfed by corporate Bitcoin giants like <a href="https://thecoinrise.com/microstrategy-stock-races-ahead-leaving-bitcoin-in-the-dust/" rel="noopener noreferrer nofollow">MicroStrategy</a>, which holds an impressive 252,220 BTC. The intelligence software firm has been the most aggressive company in acquiring digital assets, solidifying its reputation as the largest corporate holder. In comparison, <a href="https://thecoinrise.com/bitcoin-miners-july-btc-production-snapshot-marathon-leads-the-pack/" rel="noopener noreferrer nofollow">Marathon Digital</a>, a major player in Bitcoin mining, holds 26,200 BTC.
<h2 id="b-metaplanet-stock-experience-significant-uptick-b">Metaplanet Stock Experience Significant Uptick&nbsp;</h2>
Following the acquisition news, the investment firm’s stock has climbed 4.24% so far, with shares trading at 1,033 yen. Meanwhile, Japan’s broader market also showed strength, with the Nikkei 225 index climbing 1.91% today. In August, the firm made a major financial move to <a href="https://thecoinrise.com/metaplanet-unveils-its-68m-stock-rights-offering/" rel="noopener noreferrer nofollow">reveal a $67.5 million stock rights offering deal</a>. This action is believed to have contributed to the notable surge in the stock value.
The post <a href="https://thecoinrise.com/metaplanet-doubles-down-on-bitcoin-with-purchases-worth-6-9m/" rel="noopener noreferrer nofollow">Metaplanet Doubles Down on Bitcoin With Purchases Worth $6.9M</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Metaplanet Doubles Down on Bitcoin With Purchases Worth $6.9M

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