Bitcoin

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 Japanese investment firm Metaplanet has expanded its Bitcoin holdings to nearly 640 BTC.
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On October 7, the firm<a href="https://x.com/Metaplanet_JP/status/1843125310600184288" rel="noopener noreferrer nofollow"> announced</a> its latest acquisition of 108.78 BTC, bringing its total holdings to 639.5 BTC, valued at approximately $40.5 million.
Following the announcement, the firm’s share price surged by over 11%, reaching an intraday high of 1,047 Japanese yen (about $7),<a href="https://www.google.com/finance/quote/3350:TYO" rel="noopener noreferrer nofollow"> according to data from Google Finance.</a>
Metaplanet’s aggressive Bitcoin accumulation and strategic partnerships underline its commitment to the cryptocurrency market as part of its broader corporate strategy.
This latest purchase comes on the heels of a previous one<a href="https://defi-planet.com/2024/10/metaplanet-purchases-another-107-btc/" rel="noopener noreferrer nofollow"> announced</a> on October 1. The company added 107.913 Bitcoin, valued at approximately 1 billion yen ($6.9 million), increasing its total holdings to 506.745 BTC, worth around $32.2 million at the time.
Meanwhile, Metaplanet revealed on October 3 that it had entered into a Bitcoin put options deal with Singapore-based digital asset trading firm QCP Capital. Under the agreement, the firm sold 223 contracts for $62,000 put options, expiring on December 27, 2024. This transaction generated a profit of 23.97 BTC in option premiums for the company.
Metaplanet has also<a href="https://defi-planet.com/2024/09/metaplanet-partners-with-sbi-holdings-crypto-division-to-enhance-its-bitcoin-strategy/" rel="noopener noreferrer nofollow"> partnered</a> with SBI VC Trade, the crypto arm of Japanese conglomerate SBI Holdings, to enhance its trading, storage, and management capabilities. The partnership provides the firm with access to compliant custody services designed for tax efficiency and allows the firm to use Bitcoin as collateral for financing.
The firm’s press release stated, “This collaboration is part of our ongoing effort to engage with leading industry stakeholders in Japan who support our corporate Bitcoin accumulation strategy. “
In its ongoing effort to build trust and transparency,<a style="color: #0000ff;" href="https://defi-planet.com/2024/07/metaplanet-partners-with-hoseki-to-enhance-bitcoin-holdings-transparency/" rel="noopener noreferrer nofollow"> Metaplanet also teamed up with Hoseki</a>, a leader in Bitcoin verification technology. This partnership allows users to independently verify Metaplanet’s Bitcoin reserves using Hoseki’s advanced verification system, further enhancing confidence in the company’s holdings.
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The post <a href="https://defi-planet.com/2024/10/metaplanet-expands-its-bitcoin-holdings-to-640-btc-as-shares-surge-11/" rel="noopener noreferrer nofollow">Metaplanet Expands its Bitcoin Holdings to 640 BTC as Shares Surge 11%</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Metaplanet Expands its Bitcoin Holdings to 640 BTC as Shares Surge 11%

DeFi Planet

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