- Metaplanet’s Bitcoin portfolio is on the rise.
- The firm has hit a milestone with its current holdings.
- Metaplanet recently introduced a new BTC management strategy.
The rising appeal of digital assets has fueled a surge in institutional adoption in recent years, with several traditional financial giants jumping on the Bitcoin bandwagon. Among them is Metaplanet, a Japanese investment firm on a buying spree of the crypto giant.
Following a series of steady acquisitions in recent months, Metaplanet’s BTC holdings have now hit a major milestone.
Metaplanet’s Bitcoin Boost
Another multi-million dollar Bitcoin purchase by Japan-based Metaplanet has boosted its fast-growing portfolio. On Monday, October 28, 2024, the firm announced the acquisition of 156.78 BTC, worth approximately $10.9 million at current prices.
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The latest purchase brings its holdings to 1,018.17 BTC, marking a major growth since commencing its vision earlier in April. With an average purchase price of $63,370 (9,450,766 yen), Metaplanet’s complete stash is worth around $63.9 million (9.622 billion yen).
The firm’s CEO, Simon Gerovich, previously emphasized that it views Bitcoin as a long-term investment, highlighting its potential to surpass a $1 million price point within the “next 5 to 10 years.”
The portfolio milestone follows the adoption of a new strategy that fosters its Bitcoin vision.
Metaplanet Taps MicroStrategy’s BTC Strategy
As part of its efforts to boost its Bitcoin commitment, Metaplanet has adopted ‘BTC Yield’ as its official key performance indicator. The firm announced the decision on October 25, 2024, stating its intention to mirror strategies used by US-based investment firm MicroStrategy, another institutional leader in Bitcoin acquisition.
Metaplanet’s newly adopted strategy will enable the firm to evaluate the effectiveness of its Bitcoin acquisition approach in a way that it believes will offer more benefit.
The firm has consistently reaffirmed its commitment to a Bitcoin treasury scheme, emphasizing that the leading cryptocurrency is “fundamentally superior to any and all other forms of currency.”
On the Flipside
- Metaplanet’s 1,000 BTC stash makes it the 19th largest institutional holder and the second largest in Asia.
- At press time, Bitcoin is trading above $69,000.
Why This Matters
Metaplanet’s commitment to its Bitcoin vision highlights its recognition of the cryptocurrency as a viable investment asset. The continuation of this momentum could soon earn it a spot among Bitcoin’s top institutional holders.
Find out more about the Metaplanet’s purchases here:
Metaplanet Boosts Bitcoin Holdings with Fresh $6.9M BTC Acquisition
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