Metaplanet Adds 106 Bitcoin to Reserves, Stock Triples in 2024 After Strategic Shift
- Metaplanet’s stock surged over 15% after boosting its Bitcoin reserves to 855 BTC this October.
- Since adopting Bitcoin in April 2024, Metaplanet’s stock price has surged by over 500% this year.
- Metaplanet’s aggressive Bitcoin strategy targets 1,000 BTC, with no plans to sell its holdings soon.
Metaplanet has expanded its Bitcoin holdings, acquiring 106 BTC in its latest purchase. This brings the company’s total Bitcoin reserves to 855 BTC. The company’s Bitcoin strategy has sparked attention, especially in the stock market, which saw a rise in Metaplanet’s stock price following the announcement.
Metaplanet Stock Jumps Over 15% After Bitcoin Acquisition
Metaplanet’s stock experienced a surge of more than 15% following the company’s announcement of its most recent Bitcoin acquisition. As reported by Yahoo Finance, the stock price increased from 955 JPY to 1,105 JPY. Metaplanet has completed four Bitcoin transactions in October, with the latest being on October 11 .
Metaplanet Bitcoin Holdings Now Valued at $56 Million
Metaplanet’s total Bitcoin holdings, now worth around $56 million at current prices, position the company among the top holders of the cryptocurrency. The average purchase price of Bitcoin for the company is around $62,200, below the current market price of $65,700.
This accumulation is part of it’s strategy to safeguard against Japan’s rising debt and the declining value of the yen.
Company’s Strategic Approach to Bitcoin
Metaplanet first adopted Bitcoin as a strategic treasury asset in April 2024. Since then, the company has been steadily increasing its bitcoin holdings towards a target of 1,000 BTC.
Read CRYPTONEWSLAND on google newsThe company plans to continue to acquire more assets and is not planning on selling in the near future. The company is short of 145 BTC to reach its goal of 1,000 BTC.
Stock Value Triples in 2024
Since adopting Bitcoin, Metaplanet’s stock price has more than tripled, growing by over 500% in 2024 alone. This growth has solidified its position as a major player in both the tech and crypto markets. With its current holdings, the company ranks as the 17th largest public company holder of Bitcoin.
At this pace, the company is expected to surpass Meitu, which holds 940 BTC, and become the largest Bitcoin holder among public companies in Asia.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Price Stagnation Conditions, When Is a Pump Coming?
A massive alt-season pump isn't likely to come anytime soon, but Ethereum could remain well underpinned for these reasons.
![](https://img.bgstatic.com/multiLang/image/social/4bdd82b29ddf4415ee7a53fd5ce1ac301738974124586.jpg)
Poland’s Central Bank Rejects Bitcoin for Reserves, Citing Security Concerns: Report
Poland's NBP rejects Bitcoin for national reserves, prioritizing financial security. The decision aligns with Europe's cautious stance on cryptocurrencies as reserve assets.
![](https://img.bgstatic.com/multiLang/image/social/e92b6ef3eb8b74f0e7f7d4f25664d7c71738974123245.jpg)
Bitcoin Network Activity Drops 15%, Hits Lowest Level in a Year
CryptoQuant noted that the index has dropped 15% since peaking in November 2024, and is now sitting at 3,760, its lowest level in a year.
![](https://img.bgstatic.com/multiLang/image/social/44201114a42c6a3cd5e8c4ea88bcd8c31738974122305.jpg)
Maryland Joins States Proposing Strategic Bitcoin Reserve
Maryland introduces legislation to establish a Bitcoin reserve fund, allowing cryptocurrency holdings as a hedge against fiat inflation. The bill could reshape state financial strategies.
![](https://img.bgstatic.com/multiLang/image/social/e5db2f9456cc9c0201336104d90fdbce1738974120889.jpg)
Trending news
MoreCrypto prices
More![Bitcoin](https://img.bgstatic.com/multiLang/coinPriceLogo/bitcoin.png)
![Ethereum](https://img.bgstatic.com/multiLang/coinPriceLogo/ethereum.png)
![Tether USDt](https://img.bgstatic.com/multiLang/coinPriceLogo/0208496be4e524857e33ae425e12d4751710262904978.png)
![XRP](https://img.bgstatic.com/multiLang/coinPriceLogo/ripple.png)
![Solana](https://img.bgstatic.com/multiLang/coinPriceLogo/solana.png)
![BNB](https://img.bgstatic.com/multiLang/coinPriceLogo/binance.png)
![USDC](https://img.bgstatic.com/multiLang/coinPriceLogo/usdc.png)
![Dogecoin](https://img.bgstatic.com/multiLang/coinPriceLogo/dogecoin.png)
![Cardano](https://img.bgstatic.com/multiLang/coinPriceLogo/cardano.png)
![TRON](https://img.bgstatic.com/multiLang/coinPriceLogo/tron.png)