2024

Bitcoin

Impact

BlackRock

Tokyo-based Metaplanet Inc. has solidified its position as one of Asia’s largest institutional Bitcoin holders, following a recent share sale. The company used proceeds to purchase 156.78 BTC at an average cost of 10.2 million Yen per Bitcoin, bringing its total Bitcoin portfolio to 1,018.17 BTC. This strategic move not only strengthens Metaplanet’s market position but also underscores the increasing appeal of institutional Bitcoin investments. 
<a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" decoding="async" class="size-full wp-image-24541 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Qubetics-is-728x90-1-1.jpg" alt="Qubetics is 728x90 1 1" width="728" height="90" title="Metaplanet Expands Bitcoin Holdings to $66 Million with New Share Sale 52"></a> 
<h2 id="strategic-move-expands-metaplanet-s-bitcoin-portfolio">Strategic Move Expands Metaplanet’s Bitcoin Portfolio</h2> 
Metaplanet announced that it had purchased an additional 156.78 BTC for 1.6 billion Yen, pushing its total Bitcoin holdings to over $66 million. According to CEO Simon Gerovich, this purchase marks a significant step in the company’s strategy, securing Metaplanet’s status as a major Bitcoin player in Asia. Gerovich noted that the company now uses “BTC Yield” as a key performance indicator, measuring its holdings relative to diluted share counts. This metric will allow Metaplanet to closely monitor and evaluate changes in its Bitcoin assets over time. 
<blockquote class="twitter-tweet"> 
 *Metaplanet purchases additional 156.78 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BTC</a>* <a href="https://t.co/4zl2LhXvO6" rel="nofollow" target="_blank">pic.twitter.com/4zl2LhXvO6</a> 
 — Metaplanet Inc. (@Metaplanet_JP) <a href="https://twitter.com/Metaplanet_JP/status/1850735760934125968?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">October 28, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="impact-on-stock-price-and-institutional-trends">Impact on Stock Price and Institutional Trends</h2> 
To fund this Bitcoin acquisition, Metaplanet raised more than $67 million last week. Reflecting investor confidence in this strategy, Metaplanet’s stock price has risen 6.9% over the past 24 hours, reaching 1,147 Yen. This positive momentum demonstrates strong market support for Metaplanet’s dedication to Bitcoin. 
Metaplanet’s strategy has gained attention in Asia and worldwide, where institutional interest in Bitcoin is growing. Companies like MicroStrategy, whose success with BTC investments has encouraged others, lead the way in institutional adoption. For example, Microsoft is set to hold a shareholder vote on Bitcoin investments in 2024. Furthermore, global investment giant BlackRock has increased its interest in crypto markets, executing a $26 billion BTC purchase following the approval of spot Bitcoin ETFs in the United States. 
Metaplanet’s expansion signals a rising trend of institutional interest in Bitcoin, with broader acceptance across traditional finance and growing macroeconomic impacts. <a href="http://turkishnyradio.com" target="_blank" rel="noopener">Turkish NY Radio</a> reports that as institutional investments continue to grow, Bitcoin’s role within both cryptocurrency and traditional finance landscapes will become increasingly prominent.

Metaplanet Expands Bitcoin Holdings to $66 Million with New Share Sale

Table of Contents

TNYR

Other articles published on Oct 28, 2024

CrytocoinMiner: Spending $12 million to welcome Halloween carnival

Pump.fun Unveils New "Pump Advance" Trading Terminal, Teases Native Token Release

BlackRock Boosts Bitcoin Holdings Significantly

Moo Deng Price Prediction: MOODENG Plummets 17% In A Month As Investors Flock To This Innovative ...

Binance Announces Futures Listing for This Major Cryptocurrency: Details

ApeChain Launches on Mainnet With Arbitrum Orbit

Join our free newsletter for daily crypto updates!