Japanese investment firm, Metaplanet, has announced the purchase of an additional 135 BTC valued at $12.9 million, further solidifying its position as a major player in the crypto market. This latest acquisition is part of its ongoing Bitcoin Treasury Operation which brings the company’s total Bitcoin holdings to a new high of 2,235 Bitcoins (BTC).
Metaplanet’s Buying Spree
Metaplanet’s latest purchase is part of its ongoing effort to accumulate a significant portion of the world’s total Bitcoin supply. The company’s “21 Million Plan” aims to acquire a substantial amount of BTC, which will be held in reserve as a long-term investment.
By doing so, the Japanese investment firm is betting on the future growth and adoption of Bitcoin, which it believes will increase in value over time. This strategic move is seen as a vote of confidence in the digital market, which has recently experienced significant volatility.
A Bullish Outlook for Bitcoin
Metaplanet’s continued investment in Bitcoin is a testament to the company’s bullish outlook on the cryptocurrency’s prospects. As the global economy continues to change and adapt to new technologies, Bitcoin is increasingly being recognized as a viable store of value and a potential hedge against inflation.
With its latest purchase, Metaplanet is positioning itself at the forefront of this trend, and its commitment to accumulating a significant portion of the world’s Bitcoin supply is likely to have a lasting impact on the crypto market. Just last year, the company began looking into the potential of digital assets, as Japan was faced with a major economic crisis which made the Japanese Yen highly volatile at the time.
The Japanese firm has since officially turned to the crypto asset as its major reserve asset, recognizing Bitcoin’s potential for growth and its increasing adoption as a store of value. It has proven to be proactive, acquiring more bitcoins, confident that it will play a crucial role in stabilizing its economy.
A few days ago, Metaplanet acquired 68.59 BTC for $6.6 million, which raised the company’s Bitcoin holdings to a massive 2,100 BTC, a mark that proves its resilience in the crypto space. With this latest purchase, Metaplanet shows no sign of relenting in its buying spree.
