Unpacking what’s next for Bitcoin as Metaplanet stocks up on 57.1 BTC

📆 2024-08-13 8:22 PM
📰 CryptoAmb

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Metaplanet buys another $3.3 million worth of BTC. The recent purchase is a part of the company's bitcoin accumulation strategy

Amidst increased institutional interest as companies bet on Bitcoin’s future value, Japanese Metaplanet has been on a buying spree to accumulate as much BTC as possible.The recent acquisition is a part of the broader company’s strategy to accumulate BTC. The company hopes to stake its future value in something like America’s MicroStrategy on BTC.As reported earlier by AMBCrypto, Metaplanet has been on a buying spree to increase the total BTC holding through long-term accumulation.

On the 28th of May, the company bought $1.6 million worth of BTC. In July, it purchased 19.87 BTC worth $1.7 million. In June, it purchased $1.59 worth of Bitcoin. According to data from CoinGecko, Metaplanet was at the 20th position among the largest institutional holders of BTC.

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