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Metaplanet Bitcoin Investment Has Now Surpassed 1,000 BTC

Key Points:

Metaplanet surpassed 1,000 Bitcoin holdings after purchasing 156.78 BTC for approximately $10.4 million on October 28.
Although Metaplanet Bitcoin investment is still far behind MicroStrategy’s 252,000 BTC, the company is emerging as a notable player in adopting the enterprise Bitcoin.

Metaplanet, a company popularly regarded as the “Asian MicroStrategy,” just broke the 1,000 Bitcoin accumulation barrier with the most recent buy on October 28.

Metaplanet Bitcoin Investment Reaches Over 1,000 Coins After Latest Purchasing

The milestone is realized with the firm’s continuous aggressive buying spree into the cryptocurrency market this month, October, from its Tokyo headquarters.

On October 22, Metaplanet announced that it had raised an additional 10 billion Japanese yen, approximately $66 million, to add to its Bitcoin buying. A week later, it was disclosed that the company had purchased 156.78 BTC for approximately 1.6 billion yen, or $10.4 million, in value, which is 60% higher compared to its last purchase this month.

This latest purchase puts Metaplanet Bitcoin investment at 1,108 BTC, which is approximately $69 million. Such huge growth has seen several purchases in the last weeks, with over 600 BTC being bought.

Building a Worldwide Foothold in Bitcoin Adoption

It all started on October 1, when Metaplanet bought 107 BTC for 1 billion yen ($6.6 million) at an average price of $61,932 per Bitcoin. Soon after, on October 7, the firm added another 108 BTC for about $6.7 million.

However, while the Metaplanet Bitcoin investment remains a fraction of what MicroStrategy holds, 252,000 BTC, the company is fast cementing its status as a mainstay in the global landscape of Bitcoin adoption. With continued portfolio expansion, Metaplanet positions itself for further growth in the ever-changing cryptocurrency frontier.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.