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    Metaplanet becomes Asia’s second-largest corporate Bitcoin holder

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    Japanese investment firm Metaplanet now owns over 1,000 bitcoins (BTC), worth around $68m, following a purchase of 156.78 BTC on 28 October. CEO Simon Gerovich confirmed the company, which has a bitcoin-first strategy, will continue buying the cryptocurrency. Metaplanet is the second biggest corporate holder of bitcoins in Asia, and 19th globally. China’s Boyaa Interactive International is the region’s biggest holder with 1,100 BTC, followed by Hong Kong’s Meitu. Metaplanet’s stock has surged by 16% since buying more bitcoin, and is presently priced at around $7.5 per share.

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    The Japanese investment company, Metaplanet, is making headlines after its latest Bitcoin purchase brought its total to over 1,000 BTC. That means that Metaplanet now owns around $68 million worth of Bitcoin. They reached this Bitcoin milestone after buying another 156.78 BTC on October 28th which has taken their overall Bitcoin count to 1,018.17 BTC.

    The CEO of Metaplanet, Simon Gerovich, was pretty pleased about this big achievement, posting about it and confirming that the company has become one of the largest corporate holders of Bitcoin in Asia. When quizzed if Metaplanet would continue buying Bitcoin, Gerovich responded with “always and forever”, suggesting there are more Bitcoin purchases to come from them.

    But where does Metaplanet rank globally? Well, with this latest Bitcoin purchase, it has become Asia’s second-biggest corporate Bitcoin holder. They’re also 19th on the worldwide list.

    Contrary to some reports saying Metaplanet has the top spot in Asia for corporate Bitcoin holding, data from BitcoinTreasuries suggests otherwise. This data shows the Chinese company, Boyaa Interactive International, beating Metaplanet to the top spot with its 1,100 BTC bought earlier in the year. Following behind Metaplanet is the Hong Kong-based company Meitu, which owns 940.9 BTC, valued at about $64 million.

    Back in May, Metaplanet rejigged its treasury management strategy, deciding to adopt Bitcoin as its treasury reserve asset as a way to tackle persistent economic pressures in Japan. From that point on, the company adopted a “Bitcoin-first, Bitcoin-only” strategy.

    Metaplanet’s strategy seems to be working too, looking at the company’s shares since they began buying Bitcoin. Recently, Metaplanet’s stocks jumped by 16% after procuring another 107 BTC, with the company’s shares currently valued at around $7.5 each. Google Finance data reveals that in 2024, the stock increased by an impressive 505.26%.

    Source: Cointelegraph

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