Key Points
- Metaplanet has purchased another $3.3 million worth of Bitcoin as part of its accumulation strategy.
- The company’s stock has seen a significant rise, with an increase of 82.87% over the past five days.
Japanese company Metaplanet has been strategically acquiring Bitcoin.
This is in response to the growing institutional interest in the cryptocurrency, with companies betting on Bitcoin’s future value.
Metaplanet’s Bitcoin Accumulation
A week ago, Metaplanet secured a loan of ¥1 billion to buy more Bitcoin.
The company’s CEO, Simon Gerovich, shared his strategy on his official X page, stating, “Always be staking #bitcoin.”
This recent acquisition is part of the company’s broader strategy to accumulate Bitcoin, similar to America’s MicroStrategy.
The recent purchase of 57.103 worth $3.3 million has increased the company’s total Bitcoin stockpile to 303.95 Bitcoins valued at $18 million.
This is part of various purchases made over the past months.
Impact on Metaplanet’s Position
Metaplanet’s Bitcoin strategy has established the company as one of the key players among global institutions.
Data from CoinGecko places Metaplanet at the 20th position among the largest institutional holders of Bitcoin.
As a result, the company’s stock has seen an exponential rise.
Google Finance reports that the stock has increased by 82.87% over the past five days and by 600.63% over YTD.
The company has experienced significant growth over the past seven months.
With the projected value of Bitcoin, Metaplanet’s accumulation strategy is set to make it a key player in the industry.
