Japanese Firm Metaplanet Makes Bold Move with $2M Bitcoin Buy, Adding 38.5 BTC
Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.
Metaplanet Inc., a publicly traded Japanese firm, has announced its latest Bitcoin purchase, acquiring an additional 38.464 Bitcoins for a total of ¥300 million (approximately $2.1 million).
In an announcement, the firm said this purchase now brings the company’s total Bitcoin holdings to 398.832 BTC, valued at ¥3.75 billion.
Metaplanet has earned the nickname “Asia’s MicroStrategy” due to its aggressive accumulation of Bitcoin, following in the footsteps of the U.S.-based company MicroStrategy, known for its massive investments in cryptocurrency.
The company’s strategy of acquiring large amounts of Bitcoin has made it a huge player in the cryptocurrency markets, with its recent acquisitions gaining attention across financial sectors.
Metaplanet’s approach reflects a broader trend of corporations diversifying into digital assets as part of their financial strategies.
In August, the company revealed plans to further bolster its Bitcoin holdings by investing approximately ¥8.5 billion yen (around $58.76 million) through a new stock offering.
The company aims to raise ¥10 billion yen (roughly $69.13 million) by issuing stock acquisition rights to all common shareholders.
This decision was finalized during a Board of Directors meeting, and all common shareholders will receive stock acquisition rights as of September 5, with the allotment taking effect on September 6.
Metaplanet has cited several economic factors driving its decision to invest heavily in Bitcoin, including Japan’s high levels of national debt, persistent negative interest rates, and the
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