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Japanese Firm Metaplanet Adds $1.2M To Its Bitcoin Bag, Here's How Much It Holds Now

July 16, 2024

Japanese investment firm Metaplanet Inc. has recently made headlines with its continuous acquisition of Bitcoin, demonstrating a consistent investment strategy amid fluctuating market conditions.

According to the latest announcement, the Tokyo-based investment firm has strategically increased its Bitcoin holdings by purchasing an additional 21.88 Bitcoin, valued at over $1.2 million.

This recent acquisition, announced on July 16, brings the company’s total Bitcoin reserves to 225.611 Bitcoin, an investment now worth approximately $14.2 million, according to current market prices.

This move comes during a period when Bitcoin price is looking to break above the $65,000 mark, although the asset still currently trades at a price of $63,305 up 0.9% in the past day following the news.

The firm's decision has sparked a nearly 10% surge in its share price on the Tokyo Stock Exchange, which is currently at $0.64 (102 Yen), according to data from TradingView.

Notably, the pattern of investment by Metaplanet has been consistent, with previous purchases made regularly since April this year.

Following their strategy announced in May, the firm has positioned Bitcoin as its strategic treasury reserve asset.

This decision is in response to Japan's economic challenges, which include high levels of government debt and extended periods of negative real interest rates.

Furthermore, Metaplanet’s proactive approach includes a substantial commitment made last month.

The board of directors authorized a significant Bitcoin purchase using capital from a recent bond issuance, aiming to invest up to 1 billion yen ($6.26 million).

The company’s continuous BTC purchases have now positioned it prominently among global corporate holders of Bitcoin, where it ranks as the 21st largest, according to CoinGecko.

Bitcoin Holdings by Public Companies. | Source: CoinGecko

It is worth noting that CoinGecko has yet to update Metaplanet's latest Bitcoin purchase on this list of largest corporate holders.

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