As a long-term crypto investor with a keen interest in Japanese companies, I have been closely monitoring Metaplanet’s moves in the Bitcoin market. Their recent acquisition of over 20% more BTC has once again caught my attention, and as a shareholder in the company, I couldn’t be happier with their strategic decisions.
The price of Metaplanet’s shares experienced a significant increase of more than 20% at the Tokyo Stock Exchange after the announcement of their recent acquisition of Bitcoin.
Metaplanet, a Japanese investment company, invested over 120 million yen in purchasing more Bitcoin. Adhering to their strategic approach, they remain committed to growing their long-term Bitcoin holdings despite ongoing economic challenges in Japan.
*Metaplanet purchases additional 20.38 $BTC* — Metaplanet Inc. (@Metaplanet_JP) July 22, 2024
On Monday, a Tokyo-based investment firm announced through a post on its X platform that it had purchased 20.38 Bitcoins for approximately ¥200 million ($1.2 million). This acquisition increased the company’s Bitcoin holdings to a total of 245.992 BTC, which is equivalent to over $16.6 million based on current market prices.
In the bustle of financial news, Metaplanet’s stock price on the Tokyo Stock Exchange experienced a remarkable surge of more than 20%, reaching $1.1 based on Google Finance data. This uptick comes after the company announced the allocation of approximately $6.2 million towards Bitcoin acquisition through the issuance of a second series of ordinary bonds. These bonds, offered via EVO FUND, have an annual interest rate of 0.5% and are slated to mature on June 25, 2025.
A new purchase of 21.8 Bitcoins by the company was made only a week ago, as announced by the firm, in response to Japan’s economic hardships such as burdensome national debt, persistently low real interest rates, and a resulting depreciated yen.
Based on BitcoinTreasuries.NET’s data, Metaplanet started buying Bitcoins on April 23 and has since then seen a significant increase of over seven hundred percent in U.S. dollar value. With this latest acquisition, Metaplanet now holds the 21st position among Bitcoin holders, according to CoinGecko’s current ranking, just behind Advanced Bitcoin Technologies.
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2024-07-22 10:26