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

📆 14/8/2024 8:22 AM
📰 CryptoAmb

⏱ Reading Time:
15 sec. here
2 min. at publisher
📊 Quality Score:
News: 9%
Publisher: 68%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

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.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin investment helps Metaplanet stock soar 900% YTD: What’s next?Metaplanet soars over 900% YTD after its bold Bitcoin strategy pays off. The firm's buying spree drives its total BTC holding to 225.611.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Crypto whale scoops up 84,000 BTC in July: Bullish market shift?Crypto whales have significantly increased their Bitcoin holdings in the past month, accumulating over 84,000 BTC.
Source: CryptoAmb - 🏆 22. / 68 Read more »