Japanese company Metaplanet has increased its Bitcoin (BTC) holdings by 20.8 BTC, valued around $1.27 million, reflecting the positive trends in the cryptocurrency market.
This latest acquisition raises Metaplanet’s total Bitcoin reserves to 245.99 BTC, worth approximately $15.5 million.
The firm had previously announced plans to buy Bitcoin worth 1 billion yen, utilizing capital from bond issuance.
This strategic move follows Metaplanet’s decision to use BTC as a treasury reserve asset due to Japan’s prolonged economic challenges, including high government debt and persistent negative interest rates.
Metaplanet’s stock has experienced a significant boost, climbing 20.69% following the recent Bitcoin purchase announcement.
The company’s stock has shown a 59% increase this week and an 84% rise over the past month, reflecting heightened interest in digital assets. Bitcoin’s price has also surged to $67,668, up 7.43% over the last week.
The U.S. Securities and Exchange Commission (SEC) has authorized BlackRock to offer options trading on spot Bitcoin ETFs, marking a key milestone in expanding crypto investment products.
Crypto trader Michaël van de Poppe suggested that the Federal Reserve’s recent decision to cut interest rates by 50 basis points could positively influence the crypto market.
Recent data from CryptoQuant CEO Ki Young Ju reveals a dramatic 75% reduction in net short positions for CME Bitcoin futures over the last five months.
A Bitcoin miner wallet, inactive for 15.7 years, recently came to life, transferring 50 BTC—valued at approximately $3.05 million—into another wallet.