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Reading: Asia’s Bitcoin Giant, which has accumulated 93.5 Million Dollars of BTC, Announces its New Move! More is Coming!
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EdaFace Newsfeed > Latest News > Bitcoin and BTC > Asia’s Bitcoin Giant, which has accumulated 93.5 Million Dollars of BTC, Announces its New Move! More is Coming!
Bitcoin and BTC

Asia’s Bitcoin Giant, which has accumulated 93.5 Million Dollars of BTC, Announces its New Move! More is Coming!

vitalclick
Last updated: November 18, 2024 12:09 pm
2 months ago
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Tokyo-based investment company Metaplanet, Bitcoin (BTC) $91,963 took a new step for its acquisitions. The company announced that it will issue one-year bonds worth a total of 1.75 billion Japanese yen (about $11.3 million). While the annual interest rate of the bonds was determined as 0.36 percent, the repayment date was announced as 17 November 2025. The company’s CEO, Simon Gerovich, announced this decision on the social media platform X, with the words: “More Bitcoin purchases are on the way.” Metaplanet decided to adopt Bitcoin as a strategic treasury reserve asset in May.

Metaplanet’s Bitcoin Accumulation IncreasesBitcoin Purchases Intensify Competition

metaplanethas accelerated Bitcoin purchases in recent months. According to the company’s latest statement, the current Bitcoin asset reached 1,018 BTC. This corresponds to approximately $93.5 million at current market prices. With this figure, the company is one of the largest institutional Bitcoin investors in Asia.

Last month, the company raised 10 billion Japanese yen ($66 million) by exercising its share purchase rights. This funding increased the company’s financial strength and paved the way for more Bitcoin purchases. The company’s shares have gained 1,146 percent in value on the Tokyo Stock Exchange since the beginning of the year.

Metaplanet Bitcoin

On Monday, the share price rose 0.81 percent to 1,994 Japanese yen. However, let us note that the Nikkei 225 index fell by 1.09 percent on the same day.

Bitcoin Purchases Intensify Competition

Metaplanet’s Bitcoin purchases attract attention on a global scale. The company is still the world’s largest institutional Bitcoin investor. MicroStrategy is compared to . MicroStrategy currently holds a total of 279 thousand 420 BTC. Followed by 27 thousand 562 BTC Marathon Digital following.

This step is seen as part of Metaplanet’s growth strategy. The company aims to stay at the forefront of market competition by increasing its Bitcoin investments. Funds obtained from the bond issuance will be used directly towards this goal.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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