The post Metaplanet Inc. Expands Bitcoin Holdings to 398.832 BTC Amid Optimism in Crypto Market appeared on BitcoinEthereumNews.com.

Japanese investment firm Metaplanet Inc. has made headlines after purchasing an additional 38.464 Bitcoin, emphasizing its bullish stance on the cryptocurrency market. This latest acquisition increases Metaplanet’s total Bitcoin holdings to approximately 398.832 Bitcoin, reflecting its strategic shift amidst economic pressures in Japan. Noteworthy is Metaplanet’s collaboration with SBI VC Trade, which enhances its capability to utilize Bitcoin efficiently for corporate finance and custody services. Metaplanet Inc. strengthens its Bitcoin portfolio amidst Japan’s economic challenges by acquiring additional Bitcoin worth $2 million. Metaplanet’s Growing Bitcoin Holdings Amid Economic Uncertainty In a significant move, Metaplanet Inc. recently announced its purchase of 38.464 Bitcoin, valued at approximately 300 million yen ($2 million). This transaction marks a continuation of the firm’s proactive investment strategy aimed at bolstering its Bitcoin treasury. With this latest acquisition, Metaplanet’s total Bitcoin reserves have now reached 398.832 BTC, equivalent to around 3.75 billion yen ($26 million). This strategic decision by the Tokyo-listed company underscores its confidence in Bitcoin as a resilient asset, especially in the context of ongoing economic challenges in Japan. Recent Bitcoin Market Performance As of the latest data, Bitcoin has shown promising recovery signs, climbing 3.12% over the last 24 hours to trade at $56,732. This resurgence follows a brief dip earlier in the week when prices fell to approximately $52,700, reflecting the volatile nature of the cryptocurrency market. According to COINOTAG’s price page, this fluctuation may contribute to investor sentiment, particularly among firms like Metaplanet that view Bitcoin as a strategic asset in light of broader economic conditions. Strategic Treasury Reserve Asset Adoption Since May, Metaplanet has actively embraced Bitcoin as its strategic treasury reserve asset, a decision influenced by ongoing economic instability characterized by high government debt and negative real interest rates in Japan. This initiative provides the firm with a hedge against…

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Filed under: News - @ September 10, 2024 5:26 am