{"id":809470,"date":"2024-12-01T04:23:59","date_gmt":"2024-12-01T10:23:59","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/01\/metaplanets-bitcoin-strategy-lifts-stock-by-443-targets-1000-btc\/"},"modified":"2024-12-01T04:23:59","modified_gmt":"2024-12-01T10:23:59","slug":"metaplanets-bitcoin-strategy-lifts-stock-by-443-targets-1000-btc","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/01\/metaplanets-bitcoin-strategy-lifts-stock-by-443-targets-1000-btc\/","title":{"rendered":"Metaplanet\u2019s Bitcoin strategy lifts stock by 443%, targets 1,000 BTC"},"content":{"rendered":"

Bitcoins <\/p>\n

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\"bitcoins Metaplanet\u2019s Bitcoin strategy lifts stock by 443%, targets 1,000 BTC<\/span> Oluwapelumi Adejumo \u00b7<\/span> 2 months ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

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Metaplanet purchased more than 100 BTC to bolster its holdings to over 500 BTC.<\/p>\n

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2 min read<\/span><\/p>\n

Updated:<\/span> Oct. 1, 2024 at 10:05 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n

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Japanese investment company Metaplanet<\/a> has made its largest number of Bitcoin<\/a> purchases to date, following the acquisition of 107.913 BTC for around 1 billion yen (equivalent to $6.9 million), as per an Oct. 1 statement.<\/p>\n

This marks Metaplanet\u2019s eleventh Bitcoin acquisition since its first purchase on April 23, according to data<\/a> from Bitcoin Treasuries.<\/p>\n

With this latest purchase, the firm\u2019s total Bitcoin holdings now amount to 506.745 BTC, worth approximately $32.2 million. The company\u2019s recent disclosure shows that it has spent 4.75 billion yen (around $31.9 million) on its Bitcoin purchases, with an average acquisition cost of 9.37 million yen (roughly $64,931) per BTC.<\/p>\n

Meanwhile, Simon Gerovich, Metaplanet\u2019s CEO, hinted at further Bitcoin acquisitions and revealed the firm\u2019s next goal is to accumulate 1,000 BTC. He said<\/a>:<\/p>\n

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\u201cAs we start the second week of rights warrant exercise, please help us rise up on the list of top corporate holders of Bitcoin. Next target is to own more than 1000 Bitcoin.\u201d<\/p>\n<\/blockquote>\n

Presently, Metaplanet ranks as the second-largest institutional Bitcoin holder in Asia, trailing only Hong Kong\u2019s Meitu Inc., which holds 940.9 BTC, according to Bitcoin Treasuries.<\/p>\n

Meanwhile, the Michael Saylor-led MicroStrategy<\/a> remains the largest corporate Bitcoin holder<\/a> globally, with 252,220 BTC.<\/p>\n

Bitcoins Metaplanet stocks outperforms<\/h2>\n

Metaplanet\u2019s Bitcoin move has proven largely successful and helped the company stocks outperform traditional financial assets like the US Dollars, Gold, and Japan\u2019s Nikkei share index<\/p>\n

On Sept. 19, Gerovich shared that the company\u2019s stock has surged by 443% since adopting the Bitcoin standard.\u00a0 In comparison, the Nikkei index, the US Dollar, and Bitcoin itself have all seen declines of 7.1%, 6.4%, and 10.1%, respectively. Gold, however, has risen by 17% during this period.<\/p>\n

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Metaplanet Stock Performance. (Source: Gerovich\/X)<\/figcaption><\/figure>\n

Market observers have linked this strong performance with the firm\u2019s Bitcoin-only treasury strategy<\/a>, which it adopted in May to hedge against the volatility of the Japanese yen. Since then, Metaplanet has made regular Bitcoin purchases,<\/a> positioning itself among the top 25 institutional Bitcoin holders globally.<\/p>\n

Mentioned in this article<\/h6>\n
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Latest Asia<\/span> Stories<\/h5>\n<\/div>\n
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Latest Bitcoin<\/span> Stories<\/h5>\n<\/div>\n
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Latest Press Releases<\/h5>\n<\/header>\n<\/div>\n<\/div>\n<\/div>\n

Oluwapelumi Adejumo Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Metaplanet\u2019s Bitcoin strategy lifts stock by 443%, targets 1,000 BTC Oluwapelumi Adejumo \u00b7 2 months ago \u00b7 2 min read Metaplanet purchased more than 100 BTC to bolster its holdings to over 500 BTC. 2 min read Updated: Oct. 1, 2024 at 10:05 pm UTC Cover art\/illustration via CryptoSlate. Image includes combined content which may<\/p>\n","protected":false},"author":1,"featured_media":809471,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,134962],"tags":[11476],"class_list":{"0":"post-809470","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-metaplanets","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/809470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=809470"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/809470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/809471"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=809470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=809470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=809470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}