- Japanese fashion brand ANAP increased its Bitcoin holdings.
- ANAP’s total Bitcoin holdings amounted to more than 153 BTC, while its stock price fell by 10% today.
The crypto market has lost around 3% of its total market cap today, and Bitcoin maintains its price levels at around $107,000, while Ether is trading above the $2,700 mark. The crypto fear and greed index is reading 61, which indicates that the market sentiment is greedy at present.
What started with Strategy, initially MicroStrategy, has now become a tradition followed by multiple global firms. As per the latest reports, Japanese fashion brand ANAP has purchased more Bitcoins in the last couple of days and increased its Bitcoin holdings to over 153 BTC.
ANAP bought around 23.06 Bitcoins yesterday and added another 27.5 BTC today to its Bitcoin reserve. As a result, it now holds 153.4627 Bitcoins in its reserve. Bitcoin is not the only asset in its reserve, because the firm continues to maintain asset holdings in its primary sector, which is fashion retail.
Japanese ANAP Targets 1,000 BTC by the End of the Year
The fashion brand in Japan seems to follow in the footsteps of Japanese Strategy, Metaplanet. Similar to Metaplent, ANAP has also set a target for Bitcoin acquisition. However, it has set a modest target of acquiring at least 1,000 BTC by August 2025, whereas Metaplanet has set an ambitious goal of acquiring 210,000 BTC in the next few years.
Some global firms are even abandoning their current business models and completely going all in on Bitcoin investment, while others are keeping their traditional business intact. ANAP belongs to the latter category and views Bitcoin investment as an extension to its current business model.
Meanwhile, the Japanese fashion brand ANAP’s stock price decreased by over 10% today. We have witnessed an increase in Metaplanet and Strategy’s share price multiple times before. Their Bitcoin investments are one of the major reasons behind their stock price surge. However, ANAP’s Bitcoin investment seems to have no impact on its share price.
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