Japanese investment advisor Metaplanet has furthered its commitment to Bitcoin, purchasing 20.2 BTC for $1.2 million, bringing its total holdings to 161.3 BTC. This latest purchase follows their recent announcement of a $6 million Bitcoin acquisition strategy, reflecting a broader trend among corporations to diversify into the cryptocurrency market. Metaplanet's move mirrors the strategy of MicroStrategy, a software developer known for its massive Bitcoin holdings. The company cites the changing investment environment since the pandemic as a key driver for this strategy. Metaplanet's share price rose by 1% following the announcement.
Coindesk•1 year ago•
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Metaplanet Doubles Down on Bitcoin, Spending $1.2 Million on 20.2 BTC
Bitcoin
Investment
Crypto
Metaplanet
MicroStrategy
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Summary:
Metaplanet acquired 20.2 BTC for $1.2 million, increasing its total Bitcoin holdings to 161.3 BTC.
This is part of their recently announced $6 million Bitcoin acquisition strategy.
Metaplanet's strategy mirrors that of MicroStrategy, known for its large Bitcoin holdings.
The company cites the evolving investment environment since the pandemic as a reason for its Bitcoin focus.
Metaplanet's shares rose by 1% following the announcement.
Metaplanet's recent Bitcoin purchases show a growing trend of institutions adopting crypto as an investment asset.
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