bitcoin

Japanese Investment Firm Metaplanet Inc. Increases Bitcoin Holdings and Sees Stock Surge

The Big Whale

— 1 min read
  • Japanese investment firm Metaplanet Inc. purchases an additional 57.273 bitcoin worth $3.4 million.
  • The purchase is part of the company's plan to accumulate bitcoin after securing a $6.8 million loan.
  • Metaplanet now holds a total of 360.368 bitcoin.
  • The move is a response to economic pressures in Japan, including high government debt and weak yen.
  • Metaplanet's stock trades 10.7% higher after the announcement.
  • MicroStrategy remains the largest corporate bitcoin holder with 226,500 BTC.

Summary :
Japanese investment firm Metaplanet Inc. has announced the purchase of an additional 57.273 bitcoin, worth approximately 500 million yen ($3.4 million). This brings the company's total bitcoin holdings to 360.368 bitcoin. Metaplanet has been accumulating bitcoin as part of its strategic treasury reserve asset, citing economic pressures in Japan such as high government debt levels and weak yen. The company previously secured a 1 billion yen ($6.8 million) loan to buy more bitcoin. Metaplanet's stock traded 10.7% higher following the announcement. MicroStrategy remains the largest corporate bitcoin holder, owning 226,500 BTC, followed by Marathon Digital with 25,000 BTC.

Sources :

- TheBlock

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