Bitcoin

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<p class="is-style-lead">Japanese investment firm Metaplanet has bought $6.7 million worth of Bitcoin, adding 108.99 BTC to their expanding cryptocurrency reserves.</p>
<p>On Oct. 11, Metaplanet invested ¥1 billion or equal to $6.7 million in Bitcoin(<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bitcoin/">BTC</a>) reserves. This brings the company’s holdings in cryptocurrency to 748.50 BTC, which is currently valued at $45.65 million.</p>
<p>This marks the Tokyo-based hotel operator turned investment firm’s third ¥1 billion investment into their Bitcoin holdings since the start of this month. Previously, the firm <a rel="noopener noreferrer nofollow" href="https://crypto.news/japans-metaplanet-adds-another-6-7m-to-their-btc-reserves/">purchased</a> 108.786 BTC on Oct. 7, which brought their total Bitcoin reserves to 639.50 BTC or $40.54 million based on the market prices at the time of purchase.</p>
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   <p lang="en" dir="ltr">*Metaplanet purchases additional 108.99 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>* <a rel="noopener noreferrer nofollow" href="https://t.co/b0fDiqcAWv" target="_blank">pic.twitter.com/b0fDiqcAWv</a></p>— Metaplanet Inc. (@Metaplanet_JP) <a href="https://twitter.com/Metaplanet_JP/status/1844530302800232648?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 11, 2024</a>
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<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/metaplanet-pushes-bitcoin-holdings-past-500-btc-with-latest-buy/"> Metaplanet pushes Bitcoin holdings past 500 BTC with latest buy </a></p>
<p>On Oct. 9, Metaplanet CEO Simon Gerovich posted a chart showcasing Metaplanet’s Bitcoin reserves compared to those owned by other companies across the globe, including Microstrategy, Tesla, and Marathon Digital.</p>
<p>“Expect us to take up more space soon alongside some Bitcoin titans!” Gerovich wrote on his <a rel="noopener noreferrer nofollow" href="https://x.com/gerovich/status/1843803870818120130" target="_blank">X post</a>.</p>
<p>On the chart, the company that holds the largest Bitcoin reserves is Microstrategy with 252,220 BTC since its <a rel="noopener noreferrer nofollow" href="https://crypto.news/microstrategy-buys-bitcoin-worth-458m-total-holdings-hit-252220-btc/">last purchase</a> on Sept. 20 of 7,420 BTC.</p>
<p>Metaplanet has been dubbed “Asia’s MicroStrategy” by market proponents after the firm followed in the footsteps of the U.S AI analytics firm.</p>
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   <p lang="en" dir="ltr">Do you see <a href="https://twitter.com/Metaplanet_JP?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Metaplanet_JP</a> in the red box in the bottom right corner? Expect us to take up more space soon alongside some <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#bitcoin</a> titans! <a rel="noopener noreferrer nofollow" href="https://t.co/EEnnC4IjNb" target="_blank">pic.twitter.com/EEnnC4IjNb</a></p>— Simon Gerovich (@gerovich) <a href="https://twitter.com/gerovich/status/1843803870818120130?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 9, 2024</a>
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<p>Metaplanet announced that it will continue to diversify its Bitcoin holdings in May 2024, when Japan was plagued by high government debt levels, negative real interest rates, and a weaking national currency.</p>
<p>In order to keep up with this mission, Metaplanet has partnered with Singaporean digital asset trading firm&nbsp;<a rel="noopener noreferrer nofollow" href="https://crypto.news/qcp-capital-predicts-a-larger-bull-run-post-bitcoin-halving/">QCP Capital</a> and Japan’s <a rel="noopener noreferrer nofollow" href="https://crypto.news/metaplanet-taps-sbi-vc-trade-for-bitcoin-custody/">SBI VC Trade</a>.</p>
<p>The Japanese investment firm <a rel="noopener noreferrer nofollow" href="https://crypto.news/metaplanet-adds-btc-holdings-after-put-options-sale-with-qcp-capital/">sold 223 contracts</a> worth $62,000 put option to the Singaporean firm, earning Metaplanet a profit of 23.97 BTC in option premium. While Metaplanet’s partnership with SBI VC Trade offers the firm corporate custody services and financing options using Bitcoin as collateral.</p>
<p>Metaplanet is not the only Japanese firm taking steps to invest in cryptocurrency. According to a&nbsp;<a rel="noopener noreferrer nofollow" href="https://x.com/Nomura/status/1805126295757410622?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1805126295757410622%7Ctwgr%5Ed0006c9c4ae2e4529993eb51679cf1594a3b0a93%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fjapanese-consulting-firm-metaplanet-to-put-6-2m-in-bitcoin%2F">June survey</a>&nbsp;by Nomura and Laser Digital, over 500 investment managers in Japan have expressed interest in digital asset investments.</p>
<p>The survey found that nearly 50% of respondents are also open to using&nbsp;<a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/stablecoin/">stablecoins</a>&nbsp;for settlements and daily transactions.</p>
<p>Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/japans-metaplanet-adds-another-6-7m-to-their-btc-reserves/"> Japan’s Metaplanet adds another $6.7m to their BTC reserves </a></p>

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