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Japanese concern institution Metaplanet has made its largest fig of Bitcoin purchases to date, pursuing the acquisition of 107.913 BTC for astir 1 cardinal yen (equivalent to $6.9 million), arsenic per an Oct. 1 statement.
This marks Metaplanet’s eleventh Bitcoin acquisition since its archetypal acquisition connected April 23, according to data from Bitcoin Treasuries.
With this latest purchase, the firm’s full Bitcoin holdings present magnitude to 506.745 BTC, worthy astir $32.2 million. The company’s caller disclosure shows that it has spent 4.75 cardinal yen (around $31.9 million) connected its Bitcoin purchases, with an mean acquisition outgo of 9.37 cardinal yen (roughly $64,931) per BTC.
Meanwhile, Simon Gerovich, Metaplanet’s CEO, hinted astatine further Bitcoin acquisitions and revealed the firm’s adjacent extremity is to accumulate 1,000 BTC. He said:
“As we commencement the 2nd week of rights warrant exercise, delight assistance america emergence up connected the database of apical firm holders of Bitcoin. Next people is to ain much than 1000 Bitcoin.”
Presently, Metaplanet ranks arsenic the second-largest organization Bitcoin holder successful Asia, trailing lone Hong Kong’s Meitu Inc., which holds 940.9 BTC, according to Bitcoin Treasuries.
Meanwhile, the Michael Saylor-led MicroStrategy remains the largest corporate Bitcoin holder globally, with 252,220 BTC.
Metaplanet stocks outperforms
Metaplanet’s Bitcoin determination has proven mostly palmy and helped the institution stocks outperform accepted fiscal assets similar the US Dollars, Gold, and Japan’s Nikkei stock index
On Sept. 19, Gerovich shared that the company’s banal has surged by 443% since adopting the Bitcoin standard. In comparison, the Nikkei index, the US Dollar, and Bitcoin itself person each seen declines of 7.1%, 6.4%, and 10.1%, respectively. Gold, however, has risen by 17% during this period.
Metaplanet Stock Performance. (Source: Gerovich/X)Market observers person linked this beardown show with the firm’s Bitcoin-only treasury strategy, which it adopted successful May to hedge against the volatility of the Japanese yen. Since then, Metaplanet has made regular Bitcoin purchases, positioning itself among the apical 25 organization Bitcoin holders globally.
The station Metaplanet’s Bitcoin strategy lifts banal by 443%, targets 1,000 BTC appeared archetypal connected CryptoSlate.
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