Japan’s Metaplanet Increases Bitcoin Holdings By $2 Million, Here’s How Much BTC It Owns Now
Metaplanet, a Japanese early-stage investment company, purchased an additional $2 million worth of Bitcoin, acquiring 38.464 BTC for approximately 300 million yen. This purchase increases Metaplanet's total Bitcoin holdings to 398.832 BTC, with an aggregate cost of 3.75 billion yen, averaging over $65,700 per BTC. Bitcoin's price rose 3.4% to $57,159 amid expectations of a US Federal Reserve rate-cut cycle that may benefit risk-on assets. Metaplanet's stock increased by 5.87% to 1101 yen, while the Nikkei 225 index fell by 0.16%. The company plans to use proceeds from exercising stock acquisition rights to buy more Bitcoin. Metaplanet has adopted a "Bitcoin-first" strategy similar to MicroStrategy, which holds over 226,500 BTC. MicroStrategy's CEO Michael Saylor predicts Bitcoin could reach $13 million per BTC by 2045 if its market share increases significantly. Concerns remain about potential adverse effects on Bitcoin prices from rapid interest rate cuts.
