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The Japanese investment company Metaplanet, little known until recently, has taken a new step in its Bitcoin-focused strategy. This Monday, the firm, listed on the Tokyo Stock Exchange, announced the acquisition of 619.7 BTC for a total of 9.5 billion yen ($60.5 million), marking its most significant purchase to date.
The company now holds 1,761.98 BTC, equivalent to more than $164 million at current prices. Metaplanet has taken an aggressive approach, issuing debt to finance these acquisitions.
Metaplanet follows in the footsteps of MicroStrategy, the American firm that in 2020 began using Bitcoin as a strategic tool to optimize value for its shareholders. Currently, MicroStrategy holds 444,262 BTC, valued at more than $41 billion, establishing itself as the largest corporate holder of Bitcoin in the world.
This move reinforces the trend of companies seeking exposure to Bitcoin not only as an investment, but as a fundamental part of their business strategy. With this new acquisition, Metaplanet shows its intention to position itself as a relevant player in the growing digital asset market.
Malaysia bans Atomic Wallet operation after history of irregularities
Malaysia’s securities regulator has included Atomic Wallet on its list of companies not authorized to operate in the country. According to the Securities Commission of Malaysia, the Web3 wallet was flagged for “operating a digital asset exchange.”
Atomic Wallet, which bills itself as a decentralized and secure platform for exchanging cryptocurrencies, has faced a history of controversy. In 2023, it was the victim of a massive hack that resulted in losses exceeding $100 million, allegedly perpetrated by the North Korean hacker group Lazarus Group. The attack generated class-action lawsuits in the United States, although they were ultimately dismissed for lack of jurisdiction.
This ban comes in addition to similar measures taken by the regulator against other Cryptocurrency companies, such as Crypto Trade Malaysia and Best Exchange, reflecting a firm stance towards digital asset regulation in the region.
MicroStrategy expands its Bitcoin reserve with a new million-dollar purchase
MicroStrategy President Michael Saylor announced the acquisition of an additional 5,262 bitcoins worth $561 million, consolidating his BTC accumulation strategy. With this purchase, the company now owns a total of 444,262 BTC, acquired for approximately $27.7 billion.
Saylor highlighted the strategy’s performance so far this year, noting a 73.7% return on its Bitcoin investments. This approach has positioned MicroStrategy as one of the largest corporate holders of the cryptocurrency.
However, the company’s recent entry into the NASDAQ 100 index has sparked speculation about a possible pause in its BTC purchases starting in January. Quarterly earnings reports and market volatility could influence this decision, as both the price of Bitcoin and MicroStrategy (MSTR) stock have shown significant moves in recent weeks.
Bernie Moreno Joins Senate Banking Committee With Focus on Cryptocurrencies
Senator-elect Bernie Moreno (R-Ohio), a well-known cryptocurrency advocate, has been appointed by future Republican Senate Majority Leader John Thune to the influential Senate Banking Committee. This committee oversees the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), key agencies for regulating digital assets.
Moreno, co-founder of ChampTitles, a company that uses blockchain technology, has publicly committed to “defending cryptocurrencies in the United States Senate.” His victory in November against Democrat Sherrod Brown marked a significant shift in Ohio representation. In addition to his role on the Banking Committee, Moreno will also serve on the Commerce, Budget and Homeland Security committees.
Along with other pro-crypto lawmakers like Cynthia Lummis, Moreno could influence the development of crucial policies for the blockchain and cryptocurrency sector. Official confirmation of these allocations is expected at the start of the next Congress, marking a potential turning point in the United States’ regulatory approach to digital assets.
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