Boost

Bitcoin

Metaplanet, a renowned entity listed on the prestigious Tokyo Stock Exchange, remains unaffected by the recent decrease in the price of Bitcoin (BTC). According to an <a href="https://contents.xj-storage.jp/xcontents/33500/02202d0f/7ad6/47b4/9d12/0703c1c37d14/140120240812570515.pdf" rel="noopener noreferrer nofollow">announcement</a>, Metaplanet expanded its Bitcoin holdings by acquiring 57.1 BTC at an average price of ¥8,756,207 per Bitcoin, totaling approximately ¥500 million ($3.4 million).
<h2 id="b-metaplanet-now-holds-over-300-bitcoins-b">Metaplanet Now Holds Over 300 Bitcoins</h2>
Interestingly, Metaplanet has purchased a total of ¥2.95 billion ($20 million), increasing its cumulative Bitcoin holdings to 303.095 Bitcoins. By accumulating more Bitcoin, Metaplanet is positioning itself to benefit from the potential long-term appreciation of the cryptocurrency, which has seen significant interest from individual and institutional investors worldwide.
This announcement was also shared on Metaplanet’s social media platform X immediately after the close of trading on the Tokyo Stock Exchange.&nbsp;
Additionally, the company is positioning itself strategically to capitalize on the ongoing digital transformation of financial markets. With the<a href="https://thecoinrise.com/metaplanet-collaborate-with-prominent-investors-to-embrace-bitcoin/" rel="noopener noreferrer nofollow"> current development for the company,</a> the Japanese gain exposure to Bitcoin without paying unrealized gains tax that could be as high as 55%
<h2 id="b-metaplanet-secures-6-8m-loan-to-boost-btc-holdings-b">Metaplanet Secures $6.8M Loan to Boost BTC Holdings</h2>
The acquisition comes a few days after the investment firm secured a 1 billion Japanese yen ($6.8 million) loan from one of its shareholders, MMXX Ventures. This loan has an annual interest rate of 0.1% and will be paid back in one sum six months after it is taken, beginning on August 8th.
Meanwhile, just two days prior, <a href="https://thecoinrise.com/metaplanet-unveils-its-68m-stock-rights-offering/" rel="noopener noreferrer nofollow">Metaplanet revealed plans to raise $68 million </a>through a stock rights offering, with $58 million earmarked specifically for Bitcoin investments. This aggressive accumulation strategy is similar to<a href="https://thecoinrise.com/microstrategy-boosts-bitcoin-holdings-despite-quarterly-losses/" rel="noopener noreferrer nofollow"> MicroStategy’s approach,</a> which is the largest corporate Bitcoin holder.
<h2 id="b-metaplanet-hits-1b-yen-bitcoin-accumulation-target-b">Metaplanet Hits 1B Yen Bitcoin Accumulation Target</h2>
A few weeks ago, the Tokyo-based investment firm hit its <a href="https://thecoinrise.com/metaplanet-hits-1b-yen-bitcoin-accumulation-target/" rel="noopener noreferrer nofollow">target of accumulating ¥1 billion worth of Bitcoin</a>. The company said it met its investment target after purchasing an additional 20.381 BTC.
It is worth emphasizing that Metaplanet’s recent success is the product of hard work and purposeful effort. Before this, the Japanese firm increased its Bitcoin exposure with notable purchases. Recall that the <a href="https://thecoinrise.com/metaplanet-expands-bitcoin-holdings-with-new-purchase/" rel="noopener noreferrer nofollow">firm acquired 23.35 BTC to its Bitcoin holdings in June</a>. Shortly after, the company bought an additional 42.47 BTC at an average price of ¥9,419,300 per coin.
With its Bitcoin accumulation strategy, Metaplanet aims to participate in the ongoing digital transformation in the financial market.
The post <a href="https://thecoinrise.com/metaplanet-expands-bitcoin-holdings-with-additional-57-1-btc-purchase/" rel="noopener noreferrer nofollow">Metaplanet Expands Bitcoin Holdings With Additional 57.1 BTC Purchase</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Metaplanet Expands Bitcoin Holdings With Additional 57.1 BTC Purchase

Table of Contents

TheCoinrise Media

Other articles published on Aug 13, 2024

Weekly Article Recap: 7/29-8/02

Bitcoin (BTC) Price At Risk of Dropping Below $50K Again : Here’s Why

How to buy cryptocurrency

Top 10 Factors Determining Gas Fee in a Blockchain

Bit-Chess Announced Its Presale for Decentralized Chess to Take the Center Stage

Uniswap Foundation Reports $36.81M in Reserves and $3.22M in New Grants for Q2

Join our free newsletter for daily crypto updates!