In a bold move reflecting its aggressive investment strategy, Metaplanet, often compared to MicroStrategy, has significantly expanded its Bitcoin portfolio this October.
Over the past 15 days, the Japanese firm has added more than 300 BTC, leading to a remarkable 60% increase in its overall holdings.
On Tuesday, the company purchased an additional 106.976 BTC, investing around 1 billion Japanese yen as Bitcoin approaches the $66,000 threshold.
With this latest acquisition, Metaplanet now holds a total of 855.478 BTC, which translates to an investment of approximately ¥7.965 billion, resulting in an average purchase price of around ¥9.3 million per Bitcoin.
This surge in investment has had a positive impact on Metaplanet’s stock, which jumped by 15.71% to reach 1,105 JPY during the latest trading session. By mirroring MicroStrategy’s approach to Bitcoin, Metaplanet may see its stock value increase in a similar fashion.
The company’s strategy has proven effective, as its stock has skyrocketed by over 300% since it embraced Bitcoin investing in May 2024, making it an appealing option for those looking to invest in the cryptocurrency market indirectly.
Poland’s political landscape may be shifting in favor of crypto innovation following the election of Karol Nawrocki, a candidate who campaigned on promises to protect investor freedom and resist burdensome regulations.
Following a 6.4% pullback from its record high of $111,980, Bitcoin has stirred debate among analysts about what comes next.
Japanese investment firm Metaplanet has made another bold move in the crypto space, acquiring 1,088 more Bitcoins in its latest purchase, and pushing its total holdings to 8,888 BTC—valued at over $930 million at current prices.
As more corporations rush to add Bitcoin to their balance sheets in hopes of replicating the success of early adopters, concerns are growing that many of these firms may not have the resilience to endure a sustained crypto downturn.