Japan’s Metaplanet has purchased an additional 21.88 BTC for around $1.26 million, bringing their total holdings to over 225 BTC, worth approximately $14.55 million.
This purchase follows a consistent strategy of weekly Bitcoin investments over the past two months, similar to MicroStrategy’s approach. The company has financed these acquisitions through bond sales.
This latest investment news boosted Metaplanet’s stock by 25.81%, with shares now at 117 JPY. Since the beginning of the year, the stock has risen by more than 631%, driven by its aggressive Bitcoin strategy.
Metaplanet’s market cap stands at 17.5 billion JPY, with Bitcoin making up a growing portion of its assets, currently valued at 2.25 billion JPY.
Bitcoin itself has seen a strong recovery, rising 13.3% in the past week to nearly $65,000.
This rebound is partly due to increased institutional interest and significant inflows into spot Bitcoin ETFs, as well as a boost in global liquidity.
Bitcoin (BTC) could be significantly undervalued, according to Charles Edwards, founder of Capriole Investments.
Binance just witnessed one of its most significant Bitcoin outflows ever, with more than 27,750 BTC leaving the exchange in a single day.
Bitcoin supporters in Switzerland are pushing hard to rewrite the country’s monetary playbook. Their campaign aims to change the constitution and force the Swiss National Bank (SNB) to add Bitcoin to its currency reserves—right alongside gold.
U.S. spot Bitcoin exchange-traded funds (ETFs) continued their strong run on Thursday, logging a fifth consecutive day of net inflows as institutional interest in regulated BTC products remained firm.