Metaplanet acquires additional 108 BTC in efforts to dethrone Meitu as Asia’s top Bitcoin holder

Japanese concern steadfast Metaplanet has accrued its Bitcoin holdings to implicit 700 BTC aft its latest acquisition of the apical crypto asset.

On Oct. 11, Metaplanet confirmed the acquisition of an further 108.999 BTC for ¥1 billion. The steadfast acquired the Bitcoin astatine an mean terms of ¥9.17 million, astir $61,659.

This marks Metaplanet’s 3rd Bitcoin acquisition successful October, bringing its full holdings to 748.502 BTC, valued astatine ¥6.965 cardinal oregon $46.8 million.

On Oct. 1, the steadfast purchased 107.91 BTC for astir $7 cardinal and aboriginal earned a 23.97 BTC premium by selling 233 BTC enactment options connected Oct. 3. Fast-forward to Oct. 7, and the steadfast besides acquired an additional 108.786 BTC for ¥1 billion, equivalent to astir $6.7 million.

Metaplanet revealed its mean terms for each of its Bitcoin is ¥9.3 million, astir $62,504 per BTC. So, with Bitcoin’s existent trading astatine astir $60,600, the steadfast is presently facing a flimsy nonaccomplishment of astir $1,900 connected each of its Bitcoins.

Despite this, the acquisition has influenced Metaplanet’s banal performance. According to Google Finance data, the company’s banal has risen by astir 500% connected the year-to-date metrics.

Meanwhile, Metaplanet’s assertive buying strategy positions it arsenic a starring Bitcoin holder successful Asia. Notably, Metaplanet CEO Simon Gerovich precocious revealed the company’s extremity of accumulating astatine slightest 1,000 BTC for its reserves.

So, if it continues astatine this pace, it could surpass Hong Kong-based Meitu Inc., which holds 940.9 BTC, to go the largest publically traded Bitcoin holder successful the region.

The station Metaplanet acquires further 108 BTC successful efforts to dethrone Meitu arsenic Asia’s apical Bitcoin holder appeared archetypal connected CryptoSlate.