Digital Economy
To this end, it invested a total of 1.6 billion yen, equivalent to about $10.4 million. Thus, it added 156.78 BTC to its treasury.
Cryptographic World
It is closing in on MicroStrategy: the company surpasses 1,000 Bitcoin in its reserves and is eyeing Saylor
It is closing in on MicroStrategy: the company surpasses 1,000 Bitcoin in its reserves and is eyeing Saylor
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Institutional interest in cryptocurrencies is growing, with more and more companies betting on assets like Bitcoin (BTC), and taking advantage of the gains that the token has shown recently.
MicroStrategy, Tesla, and BlackRock are just some of the most important companies that decided to invest in BTC, with Michael Saylor's being the largest institutional holder of the cryptocurrency.
A new company recently joined this list and seeks to take MicroStrategy's place.
###Bitcoin: company surpasses 1000 BTC in reserves and is eyeing MicroStrategy
This is the Japanese blockchain company Metaplanet, known for its strong investment strategy in BTC, which surpassed a significant milestone by reaching 1,018.17 BTC and becoming a new whale of the crypto asset.
To this end, it invested a total of 1.6 billion yen, equivalent to about $10.4 million. Thus, it added 156.78 BTC to its treasury.
From July 1, 2024, to September 30, 2024, the BTC performance of Metaplanet was 41.7%, when it began to strengthen its investment in cryptos. Meanwhile, so far in October, this performance increased by 155.8%, according to company data.
Metaplanet, the Japanese software company,
Metaplanet, the Japanese software company,
The position makes the firm "one of the largest corporate holders of Bitcoin in Asia," according to Metaplanet's CEO, Simon Gerovich. For this same reason, many call the company the "Japanese MicroStrategy."
As part of this strategy, Metaplanet, which lists its shares on the Tokyo Stock Exchange, envisioned an 8% increase in its shares during the early hours of Asian stock trading. Thus, the shares showed an increase of 13.6%, and remained above $7.53 per unit.
The company recorded exponential growth in the last year and raised its share price by 443% since it began investing in the cryptocurrency, in addition to generating a return of 116% for its shareholders throughout 2024.
However, Metaplanet's shares remain far from their all-time high of $3,200 reached in 2006.
