Metaplanet's total Bitcoin holdings now exceed 1,000 after Sunday's latest acquisition, as it continues to wrap up its October spending on the world's largest cryptocurrency.
The Tokyo-based company announced that it has acquired over 156 BTC for approximately $10 million, bringing its total holdings to 1,108 bits ($69 million).
Dubbed “Asia's answer to MicroStrategy”, Metaplanet is positioning The company itself began holding Bitcoin on its balance sheet in April, calling it a “pioneer in the adoption of digital assets in Japan.”
The announcement sent the company's shares up 8% in early Asian trading, with the stock trading at 1,139 yen (US$7.41), according to Google Finance.
Bitcoin also rose by just 0.8%, trading at $67,645, according to CoinGecko data.
This milestone for the public company follows multiple purchases of over 600 BTC this month.
it started in October 1stwhen the company added 107 BTC to 1 billion yen ($6.6 million), the average price per Bitcoin was $61,932. That continued October 7th Purchased 108BTC for approximately $6.7 million.
Another 108BTC was picked up October 11th Another 106 BTC added for $6.5 million three days later.
Metaplanet last week followed in the footsteps of Michael Saylor's software company MicroStrategy, the world's largest corporate holder of Bitcoin. adopt An indicator known as “BTC Yield”.
BTC Yield aims to provide a more transparent means of assessing whether Bitcoin purchases add shareholder value, and October has proven to be particularly bullish for the company.
Although Metaplanet's 1,018 BTC holdings are still behind MicroStrategy's 252,000 BTC, the Tokyo-listed company is steadily emerging as the world's top choice for enterprise Bitcoin adoption.
Edited by Sebastian Sinclair
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