Key Points
- Metaplanet increased its Bitcoin holdings to 398.8 BTC amid the cryptocurrency’s price decline.
- The company’s share price surged by 5.9% following the increase in Bitcoin investment.
Metaplanet’s Bitcoin Investment Strategy
Metaplanet, a public investment and consulting firm in Japan, continues to follow its “buy the dip” strategy, even as Bitcoin struggles. The cryptocurrency recently experienced a 0.915% drop, falling to $56,497.76.
Despite the downturn, Metaplanet seized the opportunity to increase its Bitcoin holdings to nearly 400 BTC. This move positively impacted its share price, which rose by 5.9% on the Tokyo Stock Exchange.
The company’s recent acquisition showcases the “buy the dip” investment strategy, which involves buying assets when their prices drop in anticipation of a future rise in value.
Metaplanet’s Bitcoin Holdings and Impact
According to a report released on September 10, Metaplanet purchased 38.46 Bitcoin for $2.1 million. This increased their total holdings to 398.8 BTC, valued at approximately $23 million.
Bitcoin Treasuries data reveals that Metaplanet began its Bitcoin acquisition on April 23 and made its tenth purchase on September 10. It now holds the 27th-largest corporate Bitcoin reserve globally and ranks third in Asia.
Despite the significant increase in Bitcoin holdings, the firm’s stock price saw a minor decline of 0.45%. However, since announcing its Bitcoin investment strategy in April, Metaplanet’s share price has surged by 480%.
MicroStrategy’s Bitcoin Accumulation
MicroStrategy, the largest corporate holder of Bitcoin, recently published its second quarter 2024 financial results. The company highlighted its ongoing commitment to expanding its Bitcoin holdings, stating, “We remain laser focused on our Bitcoin development strategy and intend to continue to achieve positive “BTC Yield.””
This trend indicates that institutional investors are increasing their Bitcoin holdings despite short-term price fluctuations, suggesting a potential bullish turn for Bitcoin soon.
According to AMBCrypto’s analysis, a substantial majority (78.88%) of Bitcoin holders are currently “in the money,” holding tokens valued above their purchase price. Conversely, only 17.51% of holders are “out of the money,” with tokens worth less than their initial investment. This data further reinforces the expectation that Bitcoin may experience a positive shift in value soon.
