Japan’s Metaplanet buys $7M Bitcoin, now holds to $40.5M BTC
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 ...