Japan-based public company Metaplanet, 124 Bitcoin 
$91,963 purchased more, bringing his total Bitcoin holdings to over 1,142 BTC. With this investment, the company created a portfolio worth approximately 11.37 billion Japanese yen in total. Following the announcement of the latest acquisitions, Metaplanet’s shares gained 15%.
Bitcoin Portfolio Exceeds 1,100 BTC
Metaplanet CEO Simon Gerovich announced that the company bought 124 Bitcoins for 1.75 billion yen. The purchase was made at Bitcoin’s average price of 14,099,600 yen. The company’s average acquisition cost per Bitcoin was recorded as 9,955,874 yen. Gerovich stated that this strategic acquisition aims to increase the financial strength of the company.
The company’s total Bitcoin assets reached 1,142 BTC. With this investment, Metaplanet offered a new example of corporate strategies in the field of digital assets. The CEO emphasized that they consider Bitcoin purchases as a long-term store of value.
Stock Price Rising
Following the announcement regarding Bitcoin investments, Metaplanet’s shares increased by over 14%. The company’s shares have reached 2,300 JPY and have the potential to rise to 3,000 JPY in 2024. Investors consider this development as a positive contribution to the company’s balance sheets.
Metaplanet’s Bitcoin strategy closely follows MicroStrategy’s financial approach. This model, pioneered by Michael Saylor, has enabled companies to achieve effective results in long-term digital asset management. “Bitcoin is becoming a new value creation model for Wall Street,” said Dylan Leclair, the company’s strategist.
Bitcoin purchases by corporate companies cause great activity in the market. It is noteworthy that, in addition to Metaplanet, giants such as Microsoft have also started to include Bitcoin in their balance sheets. Bitcoin is trading at $91,763 and the possibility of reaching $100,000 is getting stronger.
These developments show that institutional interest in cryptocurrencies is rapidly increasing. This dynamic in the Bitcoin market is closely watched by investors and industry analysts.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
