Key Points
- Metaplanet, a Japanese Web3 company, has purchased an additional 19.87 Bitcoin (BTC)
- This acquisition follows the company’s recent purchase of Bitcoin, highlighting its commitment to digital assets.
Metaplanet, a company based in Japan specializing in Web3, recently announced the purchase of an additional Bitcoin worth ¥200 million, equivalent to $1.25 million.
This acquisition comes shortly after the company’s recent purchase of the digital asset last month. Just a few weeks prior, Metaplanet announced the acquisition of ¥1 Billion worth of BTC, approximately $6.25 million. Although the latest purchase is smaller than the previous one, it represents the company’s ongoing efforts to establish itself in the digital asset industry.
Investment Strategy and Future Plans
Based on the post on their X page, Metaplanet bought 19.87 Bitcoin at an average price of 10,065,548 yen per Bitcoin, for a total of 200 million yen. In their ‘Progress of Disclosure’ announcement, the company revealed that its current total Bitcoin holdings are around 117.7 BTC. This investment strategy showcases the company’s belief in Bitcoin’s potential for growth and long-term viability.
In early April, Metaplanet announced its decision to make Bitcoin its core treasury asset, further demonstrating its commitment to staying current with financial trends and innovations. This move also positions the company as a leader in the digital finance era and a pioneer in the adoption of virtual assets in Japan. The company’s post stated, “Our transition to Bitcoin is a significant milestone in our mission to lead in the digital finance era and positions Metaplanet as a pioneer in the adoption of digital assets in Japan. Stay tuned!”
Impact on Bitcoin’s Legitimacy and Price
Following the company’s first acquisition of $6.56 million worth of Bitcoin, a significant increase in its stock price was observed, which surged 90% in just 48 hours. Currently, its price has increased by over 3% in 24 hours, reflecting the positive impact of the growing influence of cryptocurrencies on the traditional financial market.
As Metaplanet’s stock value increases, Bitcoin has also seen a rise from its previous slump, when it dropped to $56,000. With the price still in recovery, it currently trades at around $62,000—also a 3% increase in the last 24 hours.
Metaplanet’s shift to Bitcoin represents a significant step for the cryptocurrency community; it signals a growing trend of institutional adoption of digital assets. As more Web3 companies move their assets to Bitcoin, its legitimacy as a store of value and a hedge against inflation will be strengthened. Furthermore, the influx of large institutions into the crypto sector will also have an impact on the price of this digital asset, which will likely lead to further increases in its value.
