Bitcoin

Momentum

Million

Bold

<ul>
 <li>Metaplanet bought 21.88 BTC for $1.2M on July 16, boosting shares by 25.8% to $0.74 on the Tokyo Stock Exchange.</li>
 <li>Metaplanet’s BTC holdings increased by 2.8%, despite recent gains, with an average purchase price of $62,890.</li>
 <li>Metaplanet is dubbed “Asia’s MicroStrategy” for its bold Bitcoin strategy, driving institutional BTC adoption amid Japan’s economic challenges.</li>
</ul>
<p>On July 16, Metaplanet, well-known for accumulating <a href="https://cryptonewsland.com/metaplanet-boosts-bitcoin-holdings-amid-market-dip-sees-stock-surge/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin holdings</a>, took another important step. Spending nearly $1.2 million, or 200 million Japanese yen, the company acquired more Bitcoin which is 21.88 to be specific. With Bitcoin priced at almost $65,000 at the time, this move highlights its increase in value.</p>
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   <p lang="en" dir="ltr">*Metaplanet purchases additional 21.88 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>* <a href="https://t.co/zCXzKFudog" rel="noopener noreferrer nofollow">pic.twitter.com/zCXzKFudog</a></p>— Metaplanet Inc. (@Metaplanet_JP) <a href="https://twitter.com/Metaplanet_JP/status/1813001960251138503?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 16, 2024</a>
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<h3 class="wp-block-heading" id="h-recent-purchase-boots-share-prices"><strong>Recent Purchase Boots Share Prices</strong></h3>
<p>Following a 4.4% spike in the price of Bitcoin the day before, this move was taken. Consequently, <a href="https://metaplanet.com/" target="_blank" rel="noopener noreferrer nofollow">Metaplanet’s</a> share prices surged by 25.8% and hit $0.74 (117 yen) on the Tokyo Stock Exchange in less than two and a half hours, as per Google Finance.</p>
<p>Earlier this month, on July 7, Metaplanet paid $2.5 million (400 million yen) to purchase 42.46 Bitcoin, taking advantage of a decrease in price. Therefore, since Metaplanet revealed its Bitcoin investing strategy on April 9, 2024, the company’s stock price has increased by about six times.</p>
<p>However, despite these gains, Metaplanet’s Bitcoin holdings are only up 2.8%, with an average purchase price of $62,890. Nevertheless, Metaplanet has been dubbed “Asia’s MicroStrategy,” reflecting the tactics of Michael Saylor’s MicroStrategy, the largest corporate Bitcoin shareholder.</p>
<p>Furthermore, Metaplanet reaffirmed on May 13 that it will increase its <a href="https://www.forbes.com/sites/digital-assets/2024/07/21/its-inevitable-bitcoin-price-suddenly-soars-on-wild-rumors-donald-trump-will-create-a-us-bitcoin-strategic-reserve/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin reserves</a> through a variety of capital market vehicles. The goal of this technique is to protect against the rising debt load and weakening Japanese yen in Japan.</p>
<h3 class="wp-block-heading" id="h-economic-context-and-institutional-adoption"><strong>Economic Context and Institutional Adoption</strong></h3>
<p>The dollar-yen pair has been on the decline since the beginning of the year 2021 the yen being down by 54%. On the other hand, in almost the same period, Bitcoin has increased its value by more than 145%. Currently Set at <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">$67,730</a>, Bitcoin has appreciated by 13.6% from the previous week.</p>
<p>Metaplanet’s strategy mirrors MicroStrategy’s Bitcoin accumulation tactics. Financing its Bitcoin purchases through bond sales, Metaplanet highlights the growing trend of institutional <a href="https://cryptonewsland.com/btc-adoption-to-hedge-uns-sustainable-development-goals/" rel="noopener noreferrer nofollow">BTC adoption</a>. Additionally, Japan’s ongoing economic challenges, including substantial government debt, negative real interest rates, and a weakened yen, have influenced Metaplanet’s Bitcoin investment strategy.</p>
<p>The company considers Bitcoin a “fundamentally superior” asset compared to political currencies, traditional stores of value, and other crypto assets. “Bitcoin is an absolutely scarce digital synthetic monetary commodity, with no central issuer,” Metaplanet stated. “Bitcoin’s monetary policy is rigidly set in stone through 2140, setting it apart from both monetary metals and competing crypto projects.”</p>
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/metaplanet-boosts-bitcoin-holdings-amid-market-dip-sees-stock-surge/" rel="noopener noreferrer nofollow">Metaplanet Boosts Bitcoin Holdings Amid Market Dip, Sees Stock Surge</a></li>
 <li><a href="https://cryptonewsland.com/23-35-bitcoins-later-metaplanets-1-6-million-crypto-acquisition/" rel="noopener noreferrer nofollow">23.35 Bitcoins Later: Metaplanet’s $1.6 Million Crypto Acquisition</a></li>
 <li><a href="https://cryptonewsland.com/metaplanet-buys-20-38-btc-finishes-6-26m/" rel="noopener noreferrer nofollow">Metaplanet Buys 20.38 BTC, Finishes $6.26M Bitcoin Plan, Stock Jumps 19%</a></li>
 <li><a href="https://cryptonewsland.com/japans-metaplanet-announces-1-59-million-bitcoin-purchase-signaling-bullish-corporate-momentum-from-the-far-east/" rel="noopener noreferrer nofollow">Japan’s Metaplanet Announces $1.59 Million Bitcoin Purchase Signaling Bullish Corporate Momentum From the Far East</a></li>
 <li><a href="https://cryptonewsland.com/japanese-firm-metaplanet-raises-%c2%a51-billion-for-major-bitcoin-acquisition/" rel="noopener noreferrer nofollow">Japanese Firm Metaplanet Raises ¥1 Billion for Major Bitcoin Acquisition</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/metaplanets-bold-bitcoin-strategy-spurs-surge-in-share-prices/" rel="noopener noreferrer nofollow">Metaplanet’s Bold Bitcoin Strategy Spurs Surge in Share Prices</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Metaplanet’s Bold Bitcoin Strategy Spurs Surge in Share Prices

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