Originally published on: October 07, 2024
Japanese investment powerhouse Metaplanet has once again expanded its Bitcoin portfolio with another substantial purchase, bringing its total holdings to a whopping $40.5 million. This latest acquisition of 108.78 Bitcoin, valued at nearly $7 million, has not only added to Metaplanet’s impressive stash of 639.5 Bitcoin but has also led to a surge of over 10% in its stock value.
Often identified as “Asia’s MicroStrategy” thanks to its aggressive approach towards Bitcoin acquisitions, Metaplanet has been on a buying spree over the past week, accumulating more than 215 Bitcoin since its last purchase on Oct. 1. This move has solidified its position as a major player in the cryptocurrency market, with intentions to further strengthen its Bitcoin reserves through strategic initiatives.
Since adopting Bitcoin as a strategic treasury reserve asset in May 2024, Metaplanet’s stock price has experienced exponential growth, tripling in value and witnessing a remarkable increase of over 532% since the beginning of this year. The firm’s innovative tactics, such as selling Bitcoin put options contracts, have not only diversified its investment portfolio but have also generated additional returns, showcasing its commitment to maximizing gains while managing risks effectively.
Metaplanet’s CEO, Simon Gerovich, recently unveiled a partnership with SBI Holdings’ crypto division to enhance the firm’s crypto trading, storage, and management capabilities. This collaboration with one of Japan’s leading integrated finance groups underscores Metaplanet’s determination to stay ahead in the ever-evolving crypto landscape.
As Metaplanet continues to make bold moves in the cryptocurrency market, its recent $7 million Bitcoin purchase serves as a testament to its unwavering commitment to embracing digital assets and seizing opportunities for growth.
