Ethereum News Daily Official TheBitTimes.com

Metaplanet boosts Bitcoin holdings to 639.5 BTC as of Oct. 7. The company’s stock price has surged 11%, with a 544% year-to-date gain since May 2024. It has so far acquired an additional $1.4M in BTC via options trading, recognizing 23.97 BTC as revenue. Japan-based investment firm Metaplanet on October 7 announced that it has made yet another significant acquisition of Bitcoin, boosting its holdings to a total of 639.5 BTC, valued at approximately $40.5 million. The company, which has garnered the nickname “Asia’s MicroStrategy” for its aggressive Bitcoin purchasing strategy, acquisition of an additional 108.78 BTC, worth roughly $7 million at the current Bitcoin price of $63,600. Metaplanet’s Bitcoin strategy has been nothing short of bold. Since May 2024, when it first adopted Bitcoin as its strategic treasury reserve asset, the firm has made regular purchases to strengthen its cryptocurrency portfolio. In total, Metaplanet ...

Japanese investment firm Metaplanet has once again increased its Bitcoin holdings, buying an additional ¥300 million (approximately $2 million) worth of Bitcoin. This acquisition, disclosed on September 10, involved 38.464 BTC at an average price of ¥7.8 million ($54,517) each. With this latest purchase, Metaplanet’s total Bitcoin reserves now stand at 398.832 BTC. Dylan LeClair , Metaplanet’s Director of Bitcoin Strategy , highlighted the firm’s proactive stance in a tweet: “Thankful for this price action. Have some capital to deploy,” referencing Bitcoin’s recent price drop below $54,000. Thankful for this price action. Have some capital to deploy. — Dylan LeClair 🟠 (@DylanLeClair_) September 8, 2024 Strategic Purchasing and Market Reactions Metaplanet’s recent purchase is part of its ongoing strategy to accumulate Bitcoin, a trend that has been evident since the firm first pivoted to a Bitcoin-centric investment approach in April 2024. This strat...