Metaplanet Buys Additional ¥300 Million Worth of Bitcoin

Metaplanet, a publically listed Japanese company, announced it had purchased 38.6 Bitcoin for 300 cardinal yen (approx. $2.2 million), bringing its full Bitcoin holdings to 398.8 BTC.

This latest Bitcoin acquisition comes aft Metaplanet announced successful August that it would rise 10.08 cardinal yen to acquisition much Bitcoin, portion of its broader firm strategy to allocate funds to Bitcoin.

Metaplanet archetypal adopted a pro-bitcoin concern argumentation earlier this twelvemonth and has steadily accumulated Bitcoin. The institution present holds an aggregate of 398.8 bitcoins purchased for astir 3.75 cardinal yen (approximately $27.6 million).

Metaplanet's ongoing Bitcoin treasury physique mimics MicroStrategy's playbook, which has raised indebtedness to bargain Bitcoin. Public companies look to person discovered a exemplary for acquiring Bitcoin.

Other firms pursuing this strategy see Marathon Digital Holdings, which precocious rise a $250 cardinal via convertible note offering to bargain much Bitcoin, and Semler Scientific, which likewise announced plans to rise much wealth to bargain much Bitcoin.

Companies tin capitalize connected Bitcoin's appreciation imaginable by borrowing fiat currency astatine debased involvement rates to acquisition Bitcoin. This allows nationalist companies to summation Bitcoin vulnerability without liquidating existing assets.

Disclaimer: Bitcoin Magazine is wholly owned by BTC Inc., which besides operates UTXO Management, a regulated superior allocator focused connected the integer assets manufacture and invested successful Metaplanet. UTXO invests successful a assortment of Bitcoin businesses, and maintains important holdings successful integer assets.