EddieJayonCrypto

 16 Jul 24

tl;dr

Japanese publicly traded firm Metaplanet Inc. continues its aggressive Bitcoin buying, acquiring 21.88 BTC for 200 million yen ($1.26 million). With this, its portfolio now stands at 225.611 BTC, purchased for a total of 2.25 billion yen ($14.197 million). The firm's consistent BTC purchases, simila...

Japanese publicly traded firm Metaplanet Inc. has expanded its Bitcoin holdings by acquiring 21.88 BTC for 200 million yen ($1.26 million), bringing its total portfolio to 225.611 BTC, purchased for a total of 2.25 billion yen ($14.197 million). Following a strategy similar to MicroStrategy's, the company is expected to continue its aggressive Bitcoin buying to grow its capital in the long term. Metaplanet has also issued bonds to finance its Bitcoin acquisitions.

The firm's consistent BTC purchases, occurring at least twice a month, reinforce its commitment to the Bitcoin strategy. With Bitcoin trading in a fluctuating market, these acquisitions have also contributed to sustaining its price within the $53,717.38 and $67,188.32 range over the past month. Despite being a company with relatively smaller capital and profit turnover, there's a likelihood that Metaplanet will persist in bolstering its Bitcoin holdings to drive long-term capital growth, given the potential for profits from its current Bitcoin bags.

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