Bitcoin

April

Billion

Metaplanet, a Japanese early-stage investment firm purchased an additional 20.381 BTC ($1.27 million) on July 22, taking the total BTC holdings to 245.992. With the latest purchase, Metaplanet has accomplished its plan to purchase 1 Billion yen worth of BTC. 
At press time, Bitcoin price was hovering at $67,282.71, after an intraday spike of 0.83% with $1,327,733,274,147 in market cap and $29,538,425,894 in 24-hour volume.
<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdGoTf1Zm0JBugKt-Kb2GnK85aTEoYuvV5gUwIGI0Sm60vse4LDqwsB8miDKFYpPqvN5nh7jKy8adV9YfpUmKuVcG7n2HznS93Hv5Q3o98dczArcxNJCNicW0A4aGUHK7K2FJweeGqTprJ1H42ufzzqC0k?key=1lLIFyeqsR0iLCNPLsnKPQ" width="477" height="481">
Source: X&nbsp; &nbsp;&nbsp;
On June 24, the Tokyo-listed company unveiled its motive to buy more BTC by offering a second series of guaranteed ordinary bonds. These bonds, valued at 1 billion yen, will carry an annual interest rate of 0.5% and are planned to mature on June 25, 2025.&nbsp;
June 26, 2024, was set as the payment date for the bonds. The company stated that the funds raised from this issuance will be allocated for purchasing BTC.
As per the plan, on July 16, <a href="https://www.coingabbar.com/en/crypto-currency-news/metaplanet-stock-surge-bitcoin-buy" title="Metaplanet purchased 21.88 Bitcoin" class="f-link" rel="noopener noreferrer nofollow">Metaplanet purchased 21.88 Bitcoin</a> worth $1.2 Million. Moreover, the company previously purchased BTC on April 23, May 10, June 11, July 1, and July 8.&nbsp;&nbsp;
<h3 id="span-span-data-font-font-size-style-font-size-16px-action-s-reaction-to-metaplanet-stock-price-span-span">Action’s Reaction to Metaplanet Stock Price</h3>
The direct reaction of the action was recorded on Metaplanet stock price, recorded a surge of 19.31% in a day. At the time of writing, the stock price was trading at 173 Japanese yen with 26.34 Billion in market cap.&nbsp;
Additionally, the Bitcoin Buying trend maintained the stock's performance throughout the month. In the past three months, Metaplanet gained a surge of 408.82% and over 105.95% in the past month, highlighting investors' trust in the particular company.&nbsp; &nbsp;
The Japanese investment firm is all set to give tough competition to <a href="https://www.coingabbar.com/en/crypto-currency-news/microstrategy-plans-stock-split-expands-bitcoin-holdings" title="MicroStrategy" class="f-link" rel="noopener noreferrer nofollow">MicroStrategy</a>, an American company that provides business intelligence (BI), mobile software, and cloud-based services.&nbsp;
Currently, Metaplanet holds 245.992 BTC whereas MicroStrategy owns 226,331 Bitcoins as of June 24, 2024. With the speed at which, the Tokyo-listed company is buying BTC, there are high chances that it will surpass MicroStrategy in upcoming years.&nbsp; &nbsp;
<h4>Conclusion</h4>
Metaplanet's recent acquisition of Bitcoin has significantly boosted its total holdings to 245.992 BTC, fulfilling its goal of purchasing 1 billion yen worth of BTC. This move has positively influenced Metaplanet's stock price, which surged by 19.31% in a day and has shown outstanding growth over the past three months. With its aggressive Bitcoin purchasing plan, Metaplanet is preparing to challenge MicroStrategy's position in the crypto market.
Also Read: <a href="https://www.coingabbar.com/en/crypto-currency-news/how-pi-network-superwallet-upgrade-impacts-pi-wallet" title="Is Pi Network Superwallet Causing Disruptions in Pi Wallet" class="f-link" rel="noopener noreferrer nofollow">Is Pi Network Superwallet Causing Disruptions in Pi Wallet&nbsp;</a>

Metaplanet’s Bitcoin Holding Reached 245.992; What Next?

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Coingabbar

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