Metaplanet’s $61.4M Bitcoin buy pushes BTC reserves to $1.85B!
Main Idea
Metaplanet Inc. has significantly increased its Bitcoin holdings to 18,113 BTC, valued at $1.85 billion, reinforcing its commitment to a 'Bitcoin standard' treasury strategy, despite a negative market reaction.
Key Points
1. Metaplanet Inc. added 518 BTC to its reserves, spending $61.4 million, bringing its total holdings to 18,113 BTC worth approximately $1.85 billion.
2. The company has been rapidly accumulating Bitcoin since December 2024, with a prior purchase of 463 BTC for $53.7 million in July, achieving a 459.2% year-to-date BTC yield.
3. Metaplanet ranks sixth globally among public companies holding Bitcoin, trailing behind firms like MicroStrategy, MARA, and Riot.
4. Despite the announcement, Metaplanet's stock initially rose 1% but later fell 2.69%, coinciding with a broader market pullback and a 2.44% drop in Bitcoin's price over 24 hours.
5. The company's strategy aligns with other Bitcoin-centric firms like MicroStrategy, which recently purchased 155 BTC for $18 million, raising its total holdings to 628,946 BTC.
Description
Metaplanet’s latest Bitcoin grab rattles the leaderboard. Is this the opening move in a bigger corporate power play?
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