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Japanese investment firm Metaplanet revealed an expansion of its bitcoin holdings, purchasing an additional 68.59 BTC for approximately $6.6 million. This acquisition increased the company’s total bitcoin assets to 2,100 BTC, valued at around $203 million.
The firm’s aggressive investment strategy has led to a significant increase in its cryptocurrency portfolio, from 141 BTC at the end of June 2024 to its current holdings, which represent roughly 0.01% of the total bitcoin supply.
Metaplanet, which is listed on the Tokyo Stock Exchange, has been actively pursuing its bitcoin strategy since April 2024. The company has been consistently buying bitcoin and expressed a clear intention to continue doing so. According to its latest statement, Metaplanet’s goal is to reach a holding of 10,000 BTC by the end of 2025 and aims to own 21,000 BTC by the end of 2026.
The firm’s commitment to bitcoin has coincided with a strong performance in its stock price. Following the announcement, Metaplanet’s shares closed up 2.78% at 6,290 yen on Thursday.
This uptick is part of a broader trend, with the stock price having increased 80.75% since the start of the year and an impressive 427.24% over the past six months. Meanwhile, the broader market as measured by the Nikkei 225 index experienced a decline, falling 1.24% today.
Metaplanet’s bullish stance on bitcoin and its substantial investments in the cryptocurrency appear to have resonated positively with investors. The company’s stock has outperformed many of its peers and the general market, as evidenced by its recent gains.
The firm’s strategic focus on accumulating bitcoin is a notable contrast to the performance of the Nikkei 225 index, which has moved in the opposite direction.
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