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Tokyo-listed concern steadfast Metaplanet continues its assertive Bitcoin acquisition strategy, adding implicit 450 BTC to its holdings this month.
On Oct. 15, Metaplanet CEO Simon Gerovich announced the acquisition of 106.976 BTC for 1 cardinal yen (approximately $6.7 million), paying an mean of 9.3 cardinal yen (around $62,520) for each coin.
This transaction is portion of the firm’s ongoing accumulation plan, efficaciously doubling its Bitcoin holdings successful October. On Oct. 1, Metaplanet bought 107.91 BTC for astir $7 million. Shortly after, the institution gained an further 23.97 BTC premium by selling 233 BTC enactment options connected Oct. 3.
Further acquisitions followed, including purchasing 108.786 BTC connected Oct. 7 and different 108.999 BTC connected Oct. 11, each costing astir $6.7 cardinal (1 cardinal yen).
As of Oct. 15, these purchases had boosted Metaplanet’s full Bitcoin holdings to 855.5 BTC, valued astatine implicit $56.1 million.
According to data from blockchain analytics steadfast Arkham Intelligence, the company’s Bitcoin holdings are presently generating a nett of astir $581,000.
Over the past 24 hours, Bitcoin’s terms has risen astir 2%, reaching $65,654 astatine the clip of writing. This marks a betterment from its caller dip to beneath $60,000 and continued trading astatine that range.
Meanwhile, Metaplanet’s Bitcoin acquisition strategy has besides positively impacted its stock. Google Finance data shows the company’s banal terms surged 15% to 1,107 yen arsenic of property time. Year-to-date, Metaplanet’s banal has risen by astir 500%.
Metaplanet adopted Bitcoin arsenic a reserve asset successful May to hedge against the volatility of the Japanese yen. It present holds the second-largest Bitcoin stash among Asia-listed companies, trailing lone Hong Kong-based Meitu, which owns 941 BTC.
Globally, some companies travel US-based Michael Saylor-led MicroStrategy’s approach, which owns implicit $16 cardinal worthy of the apical crypto, making it the largest nationalist holder of the integer asset, according to Bitcoin Treasuries data.
The station Japan’s Metaplanet reaps $581K nett from Bitcoin acquisitions appeared archetypal connected CryptoSlate.
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