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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/metaplanet-buys-more-bitcoin-despite-economic-challenges/" data-wpel-link="internal">Metaplanet Buys More Bitcoin Despite Economic Challenges</a><br></p>
<p style="text-align: justify">Tokyo-based public company <strong>Metaplanet</strong> made headlines by purchasing 42 more Bitcoins worth approximately $2.4 million. This move increased the company’s total Bitcoin holdings to 203 BTC. The action is seen as part of Metaplanet’s strategy to strengthen its cryptocurrency portfolio despite economic difficulties in Japan.</p> 
<h2 style="text-align: justify" id="cryptocurrency-investment-amid-ongoing-japanese-economic-challenges">Cryptocurrency Investment Amid Ongoing Japanese Economic Challenges</h2> 
<p style="text-align: justify">Japan’s economy has been struggling with long-term stagnation, an aging population, and a shrinking workforce. The Japanese yen has fallen to historic lows against the US dollar and the Euro. The Bank of Japan (<strong>BOJ</strong>) is attempting to stimulate the economy by keeping <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a> low, a strategy that contrasts with the high-interest policies of other major developed countries and has yet to yield the desired results.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-368709 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/bitcoin-72.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify">Metaplanet sees opportunities in the <a href="https://en.coin-turk.com/leading-cryptocurrencies-witness-surge-in-demand-and-price-formation/" data-wpel-link="internal">cryptocurrency market</a> despite the tough economic conditions. Last month, the company announced the establishment of a new subsidiary, Metaplanet Capital Limited, aiming to increase its Bitcoin holdings and explore international growth opportunities. This move is viewed as part of the company’s strategy to utilize excess cash flow and increase its Bitcoin accumulation.</p> 
<p style="text-align: justify">Metaplanet’s recent Bitcoin purchase raised the company’s stock price by 1.2%, bringing it to approximately $0.50. This increase reflects investors’ confidence in the company’s strategy and Bitcoin’s potential as a hedge against economic instability.</p> 
<h2 style="text-align: justify" id="institutional-bitcoin-investments-continue">Institutional Bitcoin Investments Continue</h2> 
<p style="text-align: justify">Metaplanet’s Bitcoin investment indicates that other major companies like <strong>MicroStrategy</strong> are following similar strategies. As of July 2024, MicroStrategy holds 226,331 BTC worth $12.5 billion. The company purchased 11,931 BTC for approximately $786 million between April and June.</p> 
<p style="text-align: justify"><strong>Arthur Hayes</strong>, co-founder of BitMEX, predicts that the Federal Reserve and the Bank of Japan will play a key role in driving Bitcoin’s <a>price</a> to $1 million. Hayes argues that the dollar-yen exchange rate could influence central banks to increase the global money supply, thereby raising Bitcoin prices. This prediction highlights the potential impact of monetary policy on cryptocurrency markets.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/metaplanet-buys-more-bitcoin-despite-economic-challenges/" data-wpel-link="internal">Metaplanet Buys More Bitcoin Despite Economic Challenges</a></h5>

Metaplanet Buys More Bitcoin Despite Economic Challenges

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