Japan-based public company Metaplanet has increased its total Bitcoin 
$91,604 holdings to over 1,142 BTC by purchasing an additional 124 Bitcoins. This investment has resulted in a portfolio valued at approximately 11.37 billion Japanese yen. Following the announcement of these purchases, Metaplanet’s stock price rose by 15%.
Bitcoin Holdings Exceed 1,100 BTC
Metaplanet CEO Simon Gerovich revealed that the company acquired 124 Bitcoins for 1.75 billion yen. The purchase was made at an average price of 14,099,600 yen per Bitcoin, with the average acquisition cost recorded at 9,955,874 yen. Gerovich stated that this strategic acquisition aims to strengthen the company’s financial position.
The company’s total Bitcoin holdings have now reached 1,142 BTC. Through this investment, Metaplanet presents a new example of corporate strategies in the realm of digital assets. The CEO emphasized that they view Bitcoin purchases as a long-term store of value.
Stock Prices Show Upward Trend
After the announcement regarding Bitcoin investments, Metaplanet’s stock prices experienced an increase of over 14%. The company’s shares reached the level of 2,300 JPY, with potential to rise to 3,000 JPY within 2024. Observers consider this development a positive contribution to the company’s financial statements.
Metaplanet’s Bitcoin strategy closely follows MicroStrategy’s financial approach. Led by Michael Saylor, this model has proven effective for companies in long-term digital asset management. The company’s strategist, Dylan Leclair, noted that “Bitcoin is becoming a new value creation model for Wall Street.”
Corporate acquisitions of Bitcoin are generating significant market activity. Companies like Microsoft are also beginning to include Bitcoin in their balance sheets. Currently, Bitcoin is trading at $91,763, with an increasing possibility of reaching $100,000.
These developments indicate a rapid increase in corporate interest in cryptocurrencies. The dynamics within the Bitcoin market are being closely monitored by investors and industry analysts.
