The Japanese investment company, Metaplanet, announced this Monday, October 28, the purchase of 156.7 Bitcoin (BTC), investing 1.6 billion yen, which is equivalent to about 10.4 million dollars. With this acquisition, the Japanese company now accumulates 1,018.17 BTC, consolidating itself as one of the whales of the bitcoin market.
To date, Metaplanet has invested more than 63 million dollars in bitcoin. The company highlights that it has strategically increased its reserves through purchases financed by its activities in the capital markets and its operating income.
From July 1, 2024 to September 30, 2024, the performance of bitcoin of Metaplanet was 41.7%. From October 1, 2024 to October 28, 2024, this performance increased to a remarkable 155.8%according to the company.
Metaplanet is now officially a bitcoin whale. Source: Metaplanet.
The nickname “Japanese MicroStrategy” is given to Metaplanet because follow the bitcoin investment strategy proposed by the well-known bitcoiner Michael Saylor. Saylor, CEO of MicroStrategy, has argued that companies should hold bitcoin in their reserves as a way to protect against inflation and diversify their assets.
MicroStrategy, following this strategy, has accumulated more than 250,000 bitcoinbeing the publicly traded company with the largest amount of BTC in custody and one of the big whales on the market.
A bitcoin whale is defined as any entity that owns more than 1,000 coins of the digital currency. This threshold is significant because it indicates considerable influence in the market, given the magnitude of its transactions. CriptoNoticias recently reported that the total number of bitcoin whales is on the way to surpass its highest level in three yearsexceeding 1,600 entities.
Investing in bitcoin has also had a positive impact on MicroStrategy stock. Last week, these They approached historical highsas reported by CriptoNoticias.
A similar phenomenon has been observed on Metaplanet, whose actions they saw increases to almost 20 dollars in reaction to the acquisition of bitcoin. Although they subsequently experienced falls, reaching below $6.90.
Metaplanet shares soared again this Monday. Source: TradingView.
After this latest bitcoin purchase, Metaplanet shares increased, rising from $6.84 to $7.77, an increase of 13.6%, and remained above $7.53 at the close of this report, according to TradingView data.
Now, Metaplanet shares They are still quite far from their all-time high, of $3,200 per share, reached in 2006. We will have to wait, as in the case of Microstrategy, what reaction its BTC purchases will have after a few years.
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