Thursday, November 7, 2024
10.2 C
London

Metaplanet is Now The Largest Bitcoin Holder in Asia

In a rather surprising move that speaks to its ongoing accumulation strategy, Metaplanet has become the largest Bitcoin holder in Asia. Indeed, the company’s most recent acquisition of more than $10 million worth of the leading cryptocurrency has pushed its total holders above the 1,000 BTC mark.

The Japanese company is one of many that has firmly embraced the adoption of the asset in 2024. It follows a similar move by US-based MicroStrategy. The Michael Saylor-led firm has continuously purchased the cryptocurrency, while the value of the company itself has only increased.

Also Read: BRICS Propose Use of Bitcoin for International Payments at 2024 Summit

Metaplanet’s 1,000 BTC Now Largest Stash in Asia

It has been an unprecedented year for Bitcoin. The asset has come so far since January of 2023 and has taken a dramatic turn to be one of the most important developments in finance. With asset managers like BlackRock and Fidelity getting involved, its value has skyrocketed.

Moreover, it has only increased the number of companies that are also looking to get involved. Among them is Metaplanet, whose aggressive BTC acquisition plan has led them to become the largest Bitcoin holder in Asia. Indeed, the company has officially brought its holding above the 1,000 BTC mark.

Also Read: Stay Ahead: Metaplanet’s ¥1 Billion Bitcoin Purchase Explained

The total holdings of the firm’s collection of Bitcoin now have a value above $68.8 million. Moreover, their most recent purchase brought their average price to $61,629 per BTC. In May, the company announced its decision to make the token a strategic reserve asset. It hasn’t looked back since.

According to data from Arkam Intelligence, the move has been a positive one for the firm. Currently, its BTC investment has resulted in unrealized gains of more than $6 million. That was likely serviced by its positive performance throughout the year. In March, the asset has reached an all-time high of $73,000. It is expected to challenge that record before the end of the year.

Hot this week

Ethereum: ETH Spikes 10%: How High Can It Rise This Weekend?

The US elections have finally ended after crowning Donald...

France May Ban Crypto Betting Platform Polymarket

France’s gambling regulator, the Autorité Nationale des Jeux (ANJ),...

Bitcoin open interest drops to $20.7B: A sign of market caution?

Bitcoin open interest recently declined from $23 billion to...

Bitcoin: How Donald Trump’s 11 crypto promises can shape BTC’s future

As Trump won the U.S. presidential elections, Bitcoin soared...

Bitcoin – Trump connection deepens as investors celebrate election results

Bitcoin rallies over $75K ahead of a Trump win. Pro-Trump...

Topics

Ethereum: ETH Spikes 10%: How High Can It Rise This Weekend?

The US elections have finally ended after crowning Donald...

France May Ban Crypto Betting Platform Polymarket

France’s gambling regulator, the Autorité Nationale des Jeux (ANJ),...

Bitcoin open interest drops to $20.7B: A sign of market caution?

Bitcoin open interest recently declined from $23 billion to...

Bitcoin: How Donald Trump’s 11 crypto promises can shape BTC’s future

As Trump won the U.S. presidential elections, Bitcoin soared...

Bitcoin – Trump connection deepens as investors celebrate election results

Bitcoin rallies over $75K ahead of a Trump win. Pro-Trump...

BRICS: What Donald Trump Election Win Means for De-Dollarization

Amid the ongoing challenge of the West by BRICS...

Can Bitcoin mirror gold’s historical rally? Analyst predicts $100K by Q1 2025

Analyst foresees Bitcoin mirroring gold’s rally. Meanwhile, the possibility of...

Donald Trump Election Creates Over 11,000 New Bitcoin Millionaires

In what was a historic 2024 presidential election, Donald...
spot_img

Related Articles

Popular Categories

spot_imgspot_img