- Metaplanet purchased an additional 108,786 Bitcoins worth 1M YEN or 6.7M USD
- Metaplanet currently owns ~506.7 BTC or ~$40.6M USD
Metaplanet continues its Bitcoin accumulation strategy, having just purchased another 108,786 BTC for an additional 1M YEN.
Back in September, we already saw a purchase for a similar amount, and Metaplanet now owns about $40.6M worth of Bitcoin.
Details on Another Metaplanet Purchase
So, Metaplanet’s ongoing series of purchases from Metaplanet is a consistent Bitcoin accumulation strategy, especially at the level of Japanese stock market fluctuations and political uncertainty.
After the purchase, Metaplanet shares are up over 10%, and this is also in the context of pending bitcoin-ETF launches.
This is the MicroStrategy strategy that the company has been pursuing since the beginning of May and has remained fairly consistent in it, reaching about 3% of the entire Bitcoin supply.
Apparently, Metaplanet is not going to stop, as the frames between large purchases are only getting shorter, and there are no big hopes for stabilization of the Japanese economy have been seen by analysts.
Conclusion
Metaplanet’s Bitcoin buying activity is growing, and the numbers show it.
That said, Bitcoin ETF initiatives are now being created that could boost the company even more.
All this is against a backdrop of relatively favorable initiatives regarding crypto regulation from Japan, which has us keeping a close eye on one of Asia’s key players. Stay tuned.
