Bitcoin

Billion

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 On October 15, Metaplanet’s shares surged by 15.7% after the Japanese investment firm announced its latest acquisition of nearly 107 Bitcoin. This purchase increased the firm’s total Bitcoin holdings to 855.5 BTC, valued at over $56.1 million, according to a<a style="color: #0000ff;" href="https://metaplanet.jp/wp-content/uploads/2024/10/Notice-of-Additional-Purchase-of-Bitcoin_October-15-2024.pdf"> company statement</a>. 
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Metaplanet’s stock price was trading at 1,105 yen ($7.38) before the Tokyo Stock Exchange’s lunch break at 11:30 a.m. local time on October 15, marking a 15.7% increase from its closing price on October 14,<a href="https://www.google.com/finance/quote/3350:TYO"> according to data from Google Finance.</a> 
The firm spent approximately $6.7 million (1 billion yen) to acquire 106.976 BTC, paying an average of $62,520 per coin, which was 5.8% below Bitcoin’s market price of $66,200 at the time of the announcement. 
This marks Metaplanet’s fifth Bitcoin purchase in October, more than doubling its total holdings. Earlier in the month, on<a style="color: #0000ff;" href="https://defi-planet.com/2024/10/metaplanet-expands-its-bitcoin-holdings-to-640-btc-as-shares-surge-11/"> October 7</a>, the firm bought 108.8 BTC, following another acquisition of 132 BTC in two transactions on<a style="color: #0000ff;" href="https://defi-planet.com/2024/10/metaplanet-purchases-another-107-btc/"> October 1</a>, according to<a style="color: #0000ff;" href="https://bitcointreasuries.net/entities/metaplanet"> Bitcoin Treasuries</a>. 
Simon Gerovich, Metaplanet’s CEO, acknowledged the firm’s growing involvement in the cryptocurrency space. In a recent X post, he hinted at further expansion, stating, “Do you see @Metaplanet_JP in the red box in the bottom right corner? Expect us to take up more space soon alongside some #Bitcoin titans!” 
<blockquote class="twitter-tweet"> 
 Do you see <a href="https://twitter.com/Metaplanet_JP?ref_src=twsrc%5Etfw">@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">#bitcoin</a> titans! <a href="https://t.co/EEnnC4IjNb">pic.twitter.com/EEnnC4IjNb</a> 
 — Simon Gerovich (@gerovich) <a href="https://twitter.com/gerovich/status/1843803870818120130?ref_src=twsrc%5Etfw">October 9, 2024</a>
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As Metaplanet continues to increase its Bitcoin holdings, the company’s stock performance suggests growing investor confidence in both the firm and the cryptocurrency market. According to<a style="color: #0000ff;" href="https://bitcointreasuries.net/entities/metaplanet"> data from Bitcoin Treasuries</a>, there appears to be some correlation between the stock price of Metaplanet and Bitcoin price movements, especially during periods of significant Bitcoin acquisition by the firm. 
<figure id="attachment_18437" aria-describedby="caption-attachment-18437" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-18437" src="https://defi-planet.com/wp-content/uploads/2024/10/Bitcoin-price-vs.-Metaplanet-Stock-price.png" alt="Bitcoin price vs. Metaplanet Stock price" width="912" height="558" srcset="https://defi-planet.com/wp-content/uploads/2024/10/Bitcoin-price-vs.-Metaplanet-Stock-price.png 912w, https://defi-planet.com/wp-content/uploads/2024/10/Bitcoin-price-vs.-Metaplanet-Stock-price-300x184.png 300w, https://defi-planet.com/wp-content/uploads/2024/10/Bitcoin-price-vs.-Metaplanet-Stock-price-768x470.png 768w, https://defi-planet.com/wp-content/uploads/2024/10/Bitcoin-price-vs.-Metaplanet-Stock-price-600x367.png 600w, https://defi-planet.com/wp-content/uploads/2024/10/Bitcoin-price-vs.-Metaplanet-Stock-price-750x459.png 750w" sizes="(max-width: 912px) 100vw, 912px">
 <figcaption id="caption-attachment-18437" class="wp-caption-text">
 Bitcoin price vs. Metaplanet Stock price. Source: <a href="https://bitcointreasuries.net/entities/metaplanet">Bitcoin Treasuries</a>
 </figcaption>
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Notably, in July, Metaplanet’s shares<a style="color: #0000ff;" href="https://defi-planet.com/2024/07/metaplanet-completes-1-billion-yen-bitcoin-purchase-stock-soars-19/#google_vignette"> jumped 19.31%</a> following its announcement of a 20.38 BTC purchase and completion of its 1 Billion yen Bitcoin purchase drive. Similarly, after the October 7 acquisition, the ffirm’sstock price rose by 11%. 
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The post <a href="https://defi-planet.com/2024/10/metaplanet-shares-soar-15-7-after-latest-bitcoin-purchase-total-holdings-now-855-5-btc/">Metaplanet Shares Soar 15.7% After Latest Bitcoin Purchase; Total Holdings Now 855.5 BTC</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Metaplanet Shares Soar 15.7% After Latest Bitcoin Purchase; Total Holdings Now 855.5 BTC

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