In a move that’ll have you questioning everything you thought you knew about cryptocurrency, Japan’s Metaplanet has managed to shove itself to the very top of the Bitcoin pyramid in Asia. Yes, you heard that right—Metaplanet is now the largest corporate holder of Bitcoin in the region. Take a moment to digest that, will you? 😱
Simon Gerovich, the CEO who’s apparently got a sixth sense for good investments, revealed that Metaplanet scooped up an additional 497 BTC at the thrilling price of $88,448 per coin. That’s nearly $44 million worth of Bitcoin they just casually dropped on March 5. Nothing big, just a casual investment that pushes their total Bitcoin stash to 2,888 BTC. We’re talking over $251 million, folks, as Bitcoin hovers near $87,198—because why not, right? 💸
So, what’s the secret? Well, Metaplanet didn’t exactly catch Bitcoin at its highest. No, no—Metaplanet bought the dip. On March 4, Bitcoin plummeted by over 8%, mostly thanks to a looming trade war and fresh tariffs from the good ol’ U.S. of A. Nothing says “buy low” like market chaos, huh? 🏷️
In case you’re wondering where that leaves poor Boyaa Interactive International, well, the Chinese gaming company—once Asia’s biggest Bitcoin hoarder—has been dethroned. Boyaa, who? They’re now down to a measly 2,410 BTC, according to BitBo. I guess it’s back to the drawing board for them. 😂 Metaplanet’s now not just the biggest in Asia but also the 12th-largest corporate Bitcoin holder in the world. Big flex, huh?
And the market is LOVING this move. Metaplanet’s stock surged a whopping 20.93% on the Tokyo Stock Exchange, hitting 4,045 yen by 3:16 PM local time on March 5. It might’ve had a little wobble last week when Bitcoin went on a rollercoaster ride, but Metaplanet’s stock is still one of the best performers, boasting a jaw-dropping 1,700% gain on the yearly chart. Must be nice, right? 📈
But wait, there’s more! This isn’t even Metaplanet’s first Bitcoin spree this week. On March 3, they went ahead and grabbed 156 more BTC at an average price of $85,483 per coin. Talk about a shopping spree! The total spend for that little splurge? Around $13.34 million. 💳
And don’t get me started on Metaplanet’s year-to-date Bitcoin yield. A staggering 45%. That’s right, 45%! According to Gerovich, their goal is to have 21,000 BTC stashed away by 2026. If that doesn’t scream “ambitious” I don’t know what does. 🏆
But how’s Metaplanet fueling this buying frenzy? It’s no accident, my friends. The company’s been raising cash through bond issuances, including a 4 billion yen (roughly $26.4 million) zero-coupon bond sale in February. And as if that wasn’t enough, they followed up with another 2 billion yen (around $13.2 million) bond issuance just last week. Guess they’re not slowing down anytime soon. 📊
Read More
- Pop-Tarts and Krispy Kreme Kick Off 2025 With Collaborative Menu
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- JJJJound’s Made in Germany adidas Superstars Drop This Week
- Rick Owens Gives RIMOWA’s Cabin Roller a Bronze Patina
- JPMorgan Sees Lower Demand for ETH ETFs Compared to BTC
- The Weeknd’s ‘Hurry Up Tomorrow’ Billboard 200 Projections
- Roseanne Barr Has A Wild New TV Show About A Farmer Who’s ‘Saving’ America, And She’s Comparing It To The Sopranos
- “Tornado Cash’s TORN Token: Riding the Rollercoaster of Sanction Roulette!”
- The First Trailer for The Weeknd’s ‘Hurry Up Tomorrow’ Film Is Here
- Australia implements sweeping ban on credit and crypto for online betting
2025-03-05 11:37