Metaplanet Expands Bitcoin Holdings to 18,113 BTC, Indicating Potential Shift Toward a Bitcoin Standard Strategy
Main Idea
Metaplanet has significantly increased its Bitcoin holdings to 18,113 BTC, reflecting a strategic shift toward a Bitcoin standard treasury strategy.
Key Points
1. Metaplanet acquired 518 BTC on August 12 for $61.4 million, bringing its total holdings to 18,113 BTC valued at approximately $1.85 billion.
2. The company's Bitcoin strategy mirrors aggressive accumulation approaches by other firms like MicroStrategy, which holds 628,946 BTC.
3. Metaplanet ranks sixth globally among public companies holding Bitcoin, according to BitcoinTreasuries data.
4. Following the announcement, Metaplanet's stock saw a brief 1% rise before settling 2.69% lower amid a broader market pullback.
5. Bitcoin's price dropped 2.44% over the past 24 hours to $119,092.10 at the time of reporting.
Description
Metaplanet has significantly increased its Bitcoin holdings to 18,113 BTC, demonstrating a strong commitment to a Bitcoin standard treasury strategy. Metaplanet’s recent purchase of 518 BTC on August 12 raised
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