Metaplanet, a company based in Tokyo, has just increased its Bitcoin holdings to over 1,000 after making a large purchase on Sunday, continuing a strong investment strategy into the world's leading cryptocurrency in October.
Specifically, the company has purchased an additional 156.7 BTC for a total value of approximately 10 million USD, bringing the total Bitcoin holdings to 1,018 BTC, equivalent to 69 million USD. This makes the company one of the largest cryptocurrency holders in Asia.
Dubbed the 'MicroStrategy of Asia', Metaplanet is asserting its pioneering position in the adoption of digital assets in Japan, as they began accumulating Bitcoin in April.
According to Google Finance, this information has driven Metaplanet's stock price up 8% in early trading in Asia, with the stock currently trading at 1,139 JPY (approximately 7.41 USD). At the same time, the price of Bitcoin also recorded a slight increase of 1.1%, currently trading at 67,790 USD.
This event marks an important milestone for Metaplanet after several purchases this month, totaling over 600 BTC. The buying phase began on October 1, when the company added 107 BTC for 1 billion Yen (6.6 million USD). Following that, on October 7, Metaplanet made a purchase of 108 BTC worth approximately 6.7 million USD, then another 108 BTC on October 11 and 106 BTC on October 14.
Although Metaplanet's Bitcoin holdings are still far from MicroStrategy's 252,000 BTC, the company is gradually establishing its position as a leading global candidate for Bitcoin adoption in business operations.
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