*Metaplanet purchases additional 57.27 $BTC* pic.twitter.com/jvk3heTCOA
— Metaplanet Inc. (@Metaplanet_JP) August 20, 2024
Metaplanet, a Japanese foreign-funded company, tweeted that it used the 1 billion yen it had previously announced to borrow from shareholder companies and spent half of the amount yesterday to purchase approximately 57.3 Bitcoins, bringing its total holdings to 360, ranking it first in the world. 27 people.
(Enterprise borrowing corpses to bring back souls! Bitcoin brings the rebirth of Metaplanet and Semler Scientific)
Metaplanet adds 500 million yen to Bitcoin purchases
As a Japanese investment company that actively follows the American software company MicroStrategy (MSTR) in buying Bitcoin, Metaplanet announced today that it has purchased an additional 57.273 Bitcoins (worth approximately 500 million yen and US$3.4 million), bringing the average price of its positions to Around 65360.
(Bitcoin takes me flying! What exactly is the Bitcoin strategy of MicroStrategy?)
It is reported that this purchase is part of a purchase plan announced a few weeks ago, in which the company lent 1 billion yen (worth approximately $6.8 million) to shareholder companies at an ultra-low interest rate of 0.1%, which was used to purchase Bitcoin.
In May this year, the company stated that it would begin to adopt micro-strategies to "use Bitcoin as a financial reserve asset." It said that this move was a direct response to Japan's economic pressure and long-term negative interest rates, and it was also intended to hedge against Japan's worsening debt burden. , and the rapidly depreciating yen.
(The Japanese version of micro-strategy follows the example of borrowing! Metaplanet issued 1 billion yen of corporate bonds to buy Bitcoin, with an annualized interest rate of 0.5%)
Metaplanet stock moves higher
As soon as the news came out, Metaplanet's stock price (3350.T) rose by as much as 19% during the day, and the trading price was as high as 1,293 yen. As of the time of writing, it fell back to 1,193 yen, and the intraday increase narrowed to 10.87%.
However, compared with the stock price performance every time he called for buying Bitcoin, the upward momentum is no longer as good as before.
Meanwhile, the Nikkei 225 Index (N225) is up 1.8% this morning.
Company’s Bitcoin holdings jump to 27th in the world
BitcoinTreasuries data shows that as Metaplanet actively buys Bitcoin, the company’s total Bitcoin holdings have increased to 360.368, temporarily ranking 27th in the world.
Obviously, the first place is still the micro strategy led by Michael Saylor. As the world’s largest corporate Bitcoin holder, he holds a total of 226,500 Bitcoins, accounting for 1.079% of the total supply.
Looking at the top ten, most of them are mining companies or large technology companies, including Marathon Digital with 25,000 coins, Riot Platform with 9,334 coins, Hut 8 with 9,109 coins, and CleanSpark with 6,591 coins.
This article Japanese micro-strategy Metaplanet added 500 million yen to buy Bitcoin, but the 10% increase in the stock price was not as good as before. It first appeared on Chain News ABMedia.
