Japan’s Metaplanet Snaps Up $2M in Bitcoin Amid Ongoing Buying Spree
Japanese firm Metaplanet purchased an additional $2M worth of Bitcoin, bringing its total holdings to $26M.
Key points:
- Another Bitcoin buy: Metaplanet purchased 38.4 $BTC, worth $2M.
- Growing reserves: Total holdings now stand at 398.8 $BTC, valued at $26M.
- Strategic treasury move: Metaplanet has been aggressively adding Bitcoin to its corporate treasury.
- Market position: The move mirrors strategies by companies like MicroStrategy.
Metaplanet’s Ongoing Bitcoin Investment:
Japanese investment firm Metaplanet has once again expanded its Bitcoin holdings. It purchased an additional 38.4 $BTC, worth ¥300M ($2M).
This brings the firm’s total Bitcoin reserves to 398.8 $BTC, valued at ¥3.75B ($26M).
Metaplanet’s Bitcoin buying spree began earlier this year.
The company shifted its corporate treasury into digital assets, citing Japan’s challenging economic conditions.
The company’s strategy resembles U.S.-based MicroStrategy, which holds over $13B in $BTC.
Read more: Metaplanet Teams Up with SBI for Bitcoin Strategy Enhancement
Bitcoin prices have hovered around $56,000, showing volatility. Despite this, Metaplanet’s continued investments suggest strong belief in Bitcoin’s long-term potential.
Their strategy signals confidence in the cryptocurrency’s future value.
