Metaplanet Boosts Bitcoin Holdings with Another Major Purchase
Metaplanet, often dubbed Japan's MicroStrategy, has acquired an additional 108.786 Bitcoin for approximately $6.7 million, as announced by CEO Simon Gerovich.
This brings the company’s total Bitcoin holdings to around $40.6 million, based on the latest figures. Currently, Bitcoin is trading at around $63,500, reflecting a slight increase in the last 24 hours.
The Tokyo-based investment firm adopted a Bitcoin investment approach similar to MicroStrategy’s back in May.
READ MORE: Bitcoin’s First Exchange Rate Set 15 Years Ago: A Look Back at Its Astonishing Rise
Following this latest acquisition, Metaplanet’s stock has surged over 10%. Earlier this month, Gerovich expressed confidence that all institutions would eventually include Bitcoin in their financial portfolios, stating, “It’s not a matter of if, but when.”
Additionally, Metaplanet has partnered with SBI VC Trade, a subsidiary of the prominent SBI Group, to facilitate Bitcoin trading and custody services. According to a recent report by River Financial, businesses now control more than 3% of Bitcoin’s total supply.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
