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Tuesday, June 11, 2024
HomeCryptoMetaplanet enters the top 30 Bitcoin holders after buying another $1.59 million...

Metaplanet enters the top 30 Bitcoin holders after buying another $1.59 million in BTC

Metaplanet has become one of the top 30 Bitcoin holding companies in the world following a recent acquisition.

On June 11, Metaplanet revealed it had purchased 23.25 Bitcoins for 250 million Yen ($1.59 million), an average of 10,706,180 Yen ($69,627) per Bitcoin. This transaction brought the company’s total Bitcoin holdings to 141.07 BTC, worth 1.45 billion Yen ($9.2 million) at an average price of 10,278,391 Yen ($65,365) per Bitcoin. price

Source: Metaplanet

This is Metaplanet’s third Bitcoin purchase within three months after its first purchase of 97.85 Bitcoin in April, followed by 19.87 BTC in May.

Metaplanet is a Japanese public company providing hospitality and technology services and was also the first publicly traded company on the Tokyo Stock Exchange to invest in Bitcoin. This latest purchase sent the company’s stock price up nearly 10%.

Source: Google Finance

Metaplanet’s latest acquisition fits into the growing trend of companies incorporating Bitcoin into their treasury assets.

Recently, two companies – Semler Scientific and DeFi Technologies – bought back nearly 1,000 BTC as they view the digital asset as a hedge against inflation and protection against currency devaluation.

Chris Kuiper, Director of Research at Fidelity Digital Assets, note that it makes sense for small and micro companies to be early adopters of this asset. According to him, smaller companies have more shares than large companies and the early adoption of BTC reflects a similar trend observed in some countries.

“What I am most impressed with is that these press releases all emphasize the characteristics of Bitcoin as an inflation hedge or protection against currency devaluation.”

Meanwhile, the amount of Bitcoin bought back by these companies is quite small compared to MicroStrategy, the largest cryptocurrency holding company with 214,400 Bitcoin, equivalent to more than 1% of the total circulating supply of the digital asset. number.

Source: Saylor Tracker


According to Cryptoslate

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.


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