Key Takeaways
Metaplanet has acquired a further 42.47 BTC, rising its complete holdings to over 203 BTC.
The corporate’s Bitcoin technique is a part of a broader development amongst world corporations utilizing cryptocurrency as an financial hedge.
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Metaplanet, a publicly traded firm listed on the Tokyo Inventory Alternate and infrequently in comparison with MicroStrategy, has acquired a further 42.47 BTC, valued at roughly 400 million Japanese Yen (round $2.3 million), the corporate shared in a Sunday announcement.
*Metaplanet purchases extra 42.47 $BTC* pic.twitter.com/dPotWszW1Y
— Metaplanet Inc. (@Metaplanet_JP) July 8, 2024
The contemporary acquisition got here after Metaplanet’s buy of ¥200 million in Bitcoin final week. The transfer additionally marks the corporate’s fifth Bitcoin buy over the previous 4 months, bringing its complete holdings to over 203 BTC, price about 2 billion Yen (over $11 million). The common buy value per Bitcoin stands at round $58,500, in keeping with Metaplanet.
Specializing in lodge improvement and actual property, Metaplanet has shifted its funding technique in the direction of Bitcoin, utilizing it as a reserve asset to counteract financial challenges in Japan.
The technique is according to a worldwide development the place firms like MicroStrategy are more and more adopting Bitcoin as a hedge in opposition to financial uncertainty.
As of July 7, world public firms maintain a collective 324,295 BTC, with MicroStrategy on the forefront, proudly owning 226,331 BTC, which constitutes over half of its market cap, as reported by BitcoinTreasuries.internet.
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