Source: CryptoPotato
- Metaplanet purchased 124 Bitcoins, bringing the total to 1,142 BTC.
- Following the announcement of the Bitcoin purchase, the company’s stock jumped by 15%.
- Corporate interest in Bitcoin is growing, as evidenced by firms like Microsoft.
By acquiring an extra 124 Bitcoins, the publicly traded Japanese business Metaplanet has grown its overall Bitcoin holdings to almost 1,142 BTC. The portfolio that this investment has created is worth about 11.37 billion Japanese yen. After these acquisitions were announced, Metaplanet’s stock price increased by 15%.
Bitcoin Holdings Total More Than 1,100 BTC
Simon Gerovich – President & CEO @ Metaplanet (Source: X.com
Simon Gerovich, CEO of Metaplanet, disclosed that the company paid 1.75 billion yen for 124 Bitcoins. With an average acquisition cost of 9,955,874 yen, the purchase was done at an average price of 14,099,600 yen per Bitcoin. According to Gerovich, the goal of this strategic acquisition is to improve the company’s financial standing.
As of right now, the company has 1,142 BTC in total. Metaplanet offers a fresh take on business tactics in the field of digital assets with this investment. The CEO clarified that they saw Bitcoin’s purchases as a long-term investment.
Stock Prices Are Trending Higher
Stock prices at Metaplanet rose over 14% following the announcement of Bitcoin investments. By 2024, the company’s shares might potentially reach 3,000 JPY, having already achieved 2,300 JPY. Observers see this development as a beneficial addition to the company’s financial results.
The Bitcoin strategy of Metaplanet closely resembles the financial strategy of MicroStrategy. This concept, spearheaded by Michael Saylor, has worked well for businesses managing digital assets over the long term. “Bitcoin is becoming a new value creation model for Wall Street,” said Dylan Leclair, the company’s strategist.
Significant market activity is being generated by corporate purchases of Bitcoin. Additionally, businesses such as Microsoft are incorporating Bitcoin into their financial sheets. With a growing chance of hitting $100,000, Bitcoin is currently trading at $91,763.
These trends show that business interest in cryptocurrency is growing quickly. Investors and industry analysts are keeping a careful eye on the characteristics of the Bitcoin market.
