Metaplanet is a Japanese company that invests in Bitcoin. It has bought 780 Bitcoins to reinforce its place as the only company outside the US among the 10 largest corporate Bitcoin owners.
In a statement released on Monday, the company announced its acquisition. announcement. Bitcoin’s latest (BTCMetaplanet has accumulated 17,132 BTC. Its average Bitcoin purchase price is 17,520.454 Japanese yen ($118.145), resulting in a $92 million total.
Metaplanet spent $1.7 billion in total on Bitcoin, with an average price of $99640 per coin.
Nansen Data is available as of this writing. indicated Bitcoin was trading at $118.171, which is just a little bit above Metaplanet’s most recent purchase price. Bitcoin’s price has risen by 0.75% in the last 24 hours.
Metaplanet has been reported to be planning to use Bitcoin to buy cash-generating companies. possibly including a digital bank in Japan.
Related: Metaplanet vs Strategy: Key differences in their approach to Bitcoin holdings
Metaplanet is the top non-US Bitcoin Treasury
Metaplanet has now solidified its position as the largest Bitcoin Treasury not located in the United States. According to BitcoinTreasuries.NET dataThe company, which is the largest Bitcoin Treasury outside the US, has a total of 10 million bitcoins.
Being the seventh-largest Bitcoin treasury in the world, Metaplanet stands behind the Trump Media & Technology Group (the company behind Truth Social) with its 18,430 BTC, and above Michael Novogratz’s Galaxy Digital Holdings with its 12,830 BTC. Metaplanet has 17,132 BTC, which is still far behind the top Bitcoin corporate Treasury Strategy (formerly MicroStrategy), with 607 770 BTC valued at over $72 billion.
Related: Metaplanet surpasses Cleanspark with $108M Bitcoin buy
Success story of Metaplanet
Metaplanet’s Bitcoin-based strategy coincides with a significant increase in the stock price. Stocks have increased by 517% in the past 12 months and 246% over the year. Google Finance reports that the company’s stock traded at $8.36 on Monday. This is a 5% increase from the previous day.
In a recent interview Simon Gerovich said in an interview with Forbes Japan that Metaplanet’s president and chief executive officer, Simon Gerovich did not anticipate such rapid growth.
“In just a year, we became the country’s top-performing stock, with record trading volume and a ¥1 trillion market cap,” He said.
Gerovich added that his company doesn’t just imitate Strategy; it also innovates. “building a Japan-native model” This is what I’m talking about “tailored to local regulation, taxation, and capital markets.” The firm’s Bitcoin exposure is in compliance with tax-free saving accounts.
Magazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review
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Source: cointelegraph.com
