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Metaplanet, a renowned entity listed on the prestigious Tokyo Stock Exchange, is not moved by the recent decline in Bitcoin (BTC) price. According to the <a href="https://x.com/Metaplanet_JP/status/1810148327654060441" rel="noopener noreferrer nofollow">announcement </a>on X, Metaplanet expanded its Bitcoin holdings by acquiring 42.47 BTC at an average purchase price of ¥9,419,300 per Bitcoin, totaling approximately ¥400 million ($2.4 million).
<h2 id="b-metaplanet-now-holds-over-200-bitcoins-b">Metaplanet Now Holds Over 200 Bitcoins</h2>
Interestingly, Metaplanet has purchased a total of ¥2.05 billion ($12.7 million), increasing its cumulative Bitcoin holdings to 203.734 Bitcoins. This announcement was also shared on Metaplanet’s social media platform X, immediately after the close of trading on the Tokyo Stock Exchange. While the Japanese company’s Bitcoin holdings have surpassed 200 BTC, its board is working towards a substantial BTC purchase of up to 1 billion yen.
By allocating a substantial sum to Bitcoin regularly, the company is positioning itself strategically to capitalize on the ongoing digital transformation of financial markets. With the <a href="https://thecoinrise.com/metaplanet-collaborate-with-prominent-investors-to-embrace-bitcoin/" rel="noopener noreferrer nofollow">current development for Metaplanet</a>, the Japanese gain exposure to Bitcoin without paying unrealized gains tax that could be as high as 55%
<h2 id="b-metaplanet-bitcoin-buying-spree-continues-b">Metaplanet Bitcoin Buying Spree Continues</h2>
In a similar announcement to investors about a week ago, <a href="https://thecoinrise.com/metaplanet-acquires-20-2-bitcoin-to-double-down-on-its-strategy/" rel="noopener noreferrer nofollow">Metaplanet purchased 20.195 BTC</a> at an average price of ¥9,903,441 per Bitcoin. The purchase brought its cumulative holdings to 161.3 BTC.
Likewise, the <a href="https://thecoinrise.com/metaplanet-expands-bitcoin-holdings-with-new-purchase/" rel="noopener noreferrer nofollow">Japanese company acquired 23.35 BTC in June</a>. The purchase accounted for 30% of Metaplanet’s market capitalization, suggesting the company’s shift in its investment strategy. Not long after the acquisition, the <a href="https://thecoinrise.com/metaplanet-floats-new-subsidiary-to-enhance-strategic-bitcoin-management/" rel="noopener noreferrer nofollow">company established a wholly-owned subsidiary</a> in the British Virgin Islands (BVI) to enhance its BTC management and capabilities. Notably, this wholly-owned subsidiary is a part of Metaplanet’s group of companies.
<h2 id="b-metaplanet-follows-microstrategy-s-footsteps-b">Metaplanet Follows MicroStrategy’s Footsteps</h2>
This continuous move by Metaplanet underscores a growing trend among companies to diversify their corporate treasuries by investing in Bitcoin. Metaplanet’s move comes after <a href="https://thecoinrise.com/microstrategy-bets-786m-on-11931-bitcoins-to-expand-holdings/" rel="noopener noreferrer nofollow">MicroStrategy purchased an additional 11,931 BTC for $786 million</a>.
As of June 20, 2024, the business intelligence firm has a total BTC holding of 226,331 BTC, worth roughly $14.9 billion. With its last acquisition,<a href="https://crypto-vanguard.com/2024/05/06/microstrategy-bitcoin-bag-outranks-any-country-in-the-world/" rel="noopener noreferrer nofollow"> MicroStrategy BTC holding had surpassed all countries worldwide,</a> outranking the closest holder country, the United States with about 7,000 BTC.
Although MicroStrategy is renowned for periodic BTC accumulation, market watchers speculate that <a href="https://thecoinrise.com/bitcoin-might-benefit-from-spot-eth-etf-approval-michael-saylor/" rel="noopener noreferrer nofollow">Michael Saylor might be betting on prices</a> to witness a surge soon.
The post <a href="https://thecoinrise.com/metaplanet-expands-bitcoin-holdings-with-42-466-btc-purchase/" rel="noopener noreferrer nofollow">Metaplanet Expands Bitcoin Holdings With 42.466 BTC Purchase</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Metaplanet Expands Bitcoin Holdings With 42.466 BTC Purchase

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