{"id":37526,"date":"2024-09-10T13:11:00","date_gmt":"2024-09-10T13:11:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/metaplanet-increases-bitcoin-holdings-to-nearly-400-btc\/"},"modified":"2024-09-10T13:11:00","modified_gmt":"2024-09-10T13:11:00","slug":"metaplanet-increases-bitcoin-holdings-to-nearly-400-btc","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/metaplanet-increases-bitcoin-holdings-to-nearly-400-btc\/","title":{"rendered":"Metaplanet Increases Bitcoin Holdings to Nearly 400 BTC"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Tokyo-listed investment company Metaplanet has added \u00a5300 million ($2 million) in new Bitcoin as part of its ongoing aggressive acquisition strategy<\/a>. The corporation acquired more than 38.4 BTC, bringing its total holdings of Bitcoin to over 398.8 BTC, which, at current market values, is estimated to be worth $22.7 million, according to a filing made on September 10.<\/p>\n

Bitcoin as a Reserve Asset<\/strong><\/h2>\n

Earlier this year, Metaplanet adopted Bitcoin as part of its reserve strategy, amid Japan\u2019s economic challenges and the weakening yen. The decision aligns with its growing crypto investments, particularly as Japan faces financial struggles, leading the Bank of Japan to raise its benchmark interest rate to 0.25%. This increase follows years of near-zero or negative interest rates, aiming to strengthen the yen. Despite these measures, Metaplanet has opted to diversify its reserves further by investing in Bitcoin, a move drawing comparisons to U.S.-based MicroStrategy\u2019s Bitcoin accumulation strategy.<\/p>\n

Recently, a collaboration with SBI VC Trade, a division of Japan\u2019s dominant financial group SBI Group, strengthened Metaplanet\u2019s dedication to its Bitcoin strategy. With Bitcoin acting as collateral, the partnership gives Metaplanet access to corporate custody services and financing options. With this agreement, the firm\u2019s growing cryptocurrency portfolio could see improved tax efficiency and compliance.<\/p>\n

Metaplanet announced earlier this year that it was going to use stock rights offers to raise $70 million, of which 80% would be used for further Bitcoin purchases. Metaplanet has benefited greatly from this move to Bitcoin, as evidenced by the company\u2019s stock rising by more than 545% year to date. This is because Bitcoin is becoming a more popular alternative asset amid Japan\u2019s persistent economic turmoil.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) Tokyo-listed investment company Metaplanet has added \u00a5300 million ($2 million) in new Bitcoin as part of its ongoing aggressive acquisition strategy. The corporation acquired more than 38.4 BTC, bringing its total holdings of Bitcoin to over 398.8 BTC, which, at current market values, is estimated to […]<\/p>\n","protected":false},"author":34,"featured_media":37527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37526"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=37526"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/37527"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=37526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=37526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=37526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}