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Will Metaplanet's stock increase by more than 25% by the end of 2024?
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Metaplanet Increases Bitcoin Holdings to 855.478 BTC with Latest ¥1 Billion Purchase on October 15
Oct 15, 2024, 12:19 AM
Japanese public company Metaplanet has significantly increased its Bitcoin holdings with a series of strategic acquisitions in October 2024. The firm purchased an additional 106.97 BTC for ¥1 billion on October 15, bringing its total Bitcoin reserves to 855.478 BTC. These acquisitions, valued at approximately ¥8 billion ($56 million), were made to position Metaplanet as a leading Bitcoin holder in Asia, potentially surpassing Meitu. The company's stock has responded positively, rising by 16% following the latest purchase. Metaplanet's aggressive buying spree has seen it add over 300 BTC in just 15 days, reflecting its commitment to using Bitcoin as a hedge against Japan's economic challenges, including negative interest rates. Previously, their holdings neared 750 BTC, earning them the nickname 'Asia's MicroStrategy'.
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