The overall market is currently struggling and investors seem hesitant to bet on any cryptocurrency due to the strong market volatility. Against this backdrop, Japanese investment giant
#metaplanet has caught the market's attention with its latest strategy ahead of the US presidential election.
Metaplanet's purchase of 156.78 BTC
On October 28, 2024, Metaplanet posted on X (formerly Twitter) that the firm had acquired a significant amount of 156.78 bitcoins (
#BTC☀ ) worth $10.5 million. This significant
$BTC acquisition had a huge impact on the firm's stock, which soared 7.18%.
Furthermore, with this recent purchase, Metaplanet has become one of the largest corporate holders of BTC in Asia, as reported by the firm's CEO Simon Gerowitz. This notable acquisition seems to mirror the acquisition of MicroStrategy, a US-based business intelligence company and the largest corporate holder of Bitcoin.
This is not the first time the Japanese investment giant has made a major purchase. However, with the recent purchase, the company's total BTC assets have increased to 1,018, which is $59 million.
In addition to Metaplanet's statement, bitcoin (BTC) looks optimistic and ready to reach its all-time high.
#BTCMiningRevenue