TL;DR

Metaplanet has surpassed 1,000 BTC after acquiring an additional 156.78 BTC on October 28, 2024, strengthening its position and reserves.
The Japanese firm raised $66 million in October to finance the expansion of its BTC holdings, intensifying its investment pace.
Accumulated purchases in October raised the total to 1,108 BTC, with an approximate value of $69 million.

Metaplanet continues to strengthen its Bitcoin (BTC) investment strategy, having surpassed 1,000 coins in its portfolio after its most recent purchase of 156.78 BTC, made on October 28, 2024.

With an approximate value of $10.4 million, this acquisition adds to a series of investments throughout the month, consolidating Metaplanet as a rising player in corporate Bitcoin adoption, although still distant from giants like MicroStrategy, which holds 252,000 BTC. Nevertheless, the firm, known as the “Asian MicroStrategy,” continues strengthening its position in the crypto market with a constant and accelerated accumulation strategy.

During October, the company has reinforced itself through a series of successive purchases and has received additional funding. On October 22, the company announced it had raised 10 billion Japanese yen, around $66 million, specifically allocated to expanding its Bitcoin holdings.

This capital injection has resulted in a series of strategic and growing investments, with the company firmly oriented toward strengthening its position. The purchase of 156.78 BTC, worth 1.6 billion yen, represents a 60% increase compared to previous acquisitions.

Metaplanet and Its Aggressive Accumulation Approach

Metaplanet’s series of acquisitions in October began on the 1st, when the company purchased 107 BTC for about $6.6 million, with an average price of $61,932 per Bitcoin. Just a few days later, on October 7, it made another investment of 108 BTC, valued at approximately $6.7 million.

These purchases, along with the latest acquisition, brought the company’s total Bitcoin holdings to 1,108 BTC, an amount representing approximately $69 million at current market value. The progression in its reserves suggests the firm is determined to establish a solid base of crypto assets, aiming to integrate into the global Bitcoin ecosystem.

From its Tokyo headquarters, the company follows a strategy that combines Bitcoin accumulation and financial backing, distinguishing it as one of the Asian entities with an investment model similar to that of U.S. corporations pioneering cryptocurrency adoption.

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Filed under: News - @ October 28, 2024 2:22 pm