Boost

Bitcoin

when

Japanese investment firm Metaplanet Inc. has again increased its Bitcoin reserves, purchasing an additional 108.786 BTC for $6.7 million (1 billion yen). The Tokyo-listed company <a href="https://contents.xj-storage.jp/xcontents/33500/dbb660db/aa33/424e/9501/a100101104c4/140120241007594264.pdf" rel="noopener noreferrer nofollow">announced</a> this acquisition on October 7, bringing its total Bitcoin holdings to 639.503 BTC, worth about $40.6 million based on current market prices.
The latest purchase reflects Metaplanet’s continued confidence in Bitcoin as a key part of its strategic treasury reserve asset plan.
The firm disclosed that it bought the newly acquired Bitcoin at an average price of 9.19 million yen ($61,880) per BTC. Furthermore, the total average price for all its Bitcoin purchases stands at 9.32 million yen ($62,789) per Bitcoin. The move follows Metaplanet’s earlier announcement in May that it had begun adopting <a href="https://thecoinrise.com/metaplanet-reveals-latest-plan-to-increase-its-bitcoin-holdings/" rel="noopener noreferrer nofollow">Bitcoin as a core part of its treasury strategy</a>.
<h2 id="span-style-font-weight-400-leveraging-bitcoin-options-to-boost-holdings-span">Leveraging Bitcoin Options to Boost Holdings</h2>
<a href="https://thecoinrise.com/metaplanet-doubles-down-on-bitcoin-with-purchases-worth-6-9m/" rel="noopener noreferrer nofollow">Metaplanet has been actively increasing its Bitcoin holdings</a> in recent months, including a similar purchase last week when it acquired 107.913 BTC for $6.7 million. The firm has also taken an innovative approach to further boost its crypto assets.
Last week, Metaplanet reported earning 23.972 BTC, roughly $1.52 million, by selling Bitcoin options and collecting premiums. This strategy has allowed the company to enhance its position in the market while maintaining a long-term outlook on Bitcoin’s growth potential.
Metaplanet’s stock reacted positively to the latest Bitcoin purchase, surging 11% to 1,017 yen in Monday’s trading session. The broader market was also upbeat, with the Nikkei 225 index climbing 2.2% as of the afternoon session.
<h2 id="span-style-font-weight-400-rising-among-corporate-bitcoin-holders-span">Rising Among Corporate Bitcoin Holders</h2>
While Metaplanet continues its aggressive accumulation of Bitcoin, it remains behind corporate giants like <a href="https://thecoinrise.com/microstrategy-seeks-to-hire-a-bitcoin-advocacy-manager/" rel="noopener noreferrer nofollow">Michael Saylor-led MicroStrategy</a>, which <a href="https://bitcointreasuries.net/" rel="noopener noreferrer nofollow">holds</a> the title of the largest corporate Bitcoin holder with 252,220 BTC.
Marathon Digital follows with 26,842 BTC. Nevertheless, Metaplanet’s increasing commitment to Bitcoin highlights a growing trend among institutions, as more companies embrace the digital asset as part of their financial strategy.
Bitcoin, meanwhile, has seen a 2.84% price increase over the past 24 hours, trading at $63,594 at the time of writing, recovering from a dip near $60,000 last week.
The post <a href="https://thecoinrise.com/metaplanet-expands-bitcoin-holdings-with-6-7m-purchase/" rel="noopener noreferrer nofollow">Metaplanet Expands Bitcoin Holdings with $6.7M Purchase</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Metaplanet Expands Bitcoin Holdings with $6.7M Purchase

Table of Contents

TheCoinrise Media

Other articles published on Oct 7, 2024

Crypto sponsorships in EPL rises to £130 million, signaling industry’s legitimacy efforts

Telegram’s reputation takes another hit as UN calls it ‘home of Southeast Asia’s cyber criminals’

Bittensor (TAO) is the most hyped AI token, but is the price rally sustainable?

Uni Emirat Arab Bebaskan Kripto dari Pajak PPN, Apa Dampaknya?

SUI, TAO, and POPCAT Outshine Bitcoin This Week—POPCAT Leads the Charge

Missed Out On 1000% Gains With Pepe? This New ETH-Based Memecoin, Cutoshi (CUTO), Is Your Golden ...

Join our free newsletter for daily crypto updates!