- The company disclosed adding 108.78 BTC to its holdings earlier on Monday.
- With today’s acquisition, the firm’s stack now exceeds 639 Bitcoins.
Metaplanet has been steadily adding to its Bitcoin holdings week after week, and with today’s acquisition, its stack now exceeds 639 Bitcoins. In the early hours of Monday’s trading on the Asia market, the Japanese corporation announced a further investment of 1 billion Japanese yen. This news comes as predictions from experts point to a surge in the price of bitcoin and new all-time highs later this month.
The Bitcoin purchasing binge has persisted at the publicly traded Japanese company Metaplanet. The company disclosed adding 108.78 BTC to its holdings earlier on Monday, October 7. The firm’s entire investment in cryptocurrency has skyrocketed to 6 billion Japanese Yen due to its steady purchase of the asset class since May 2024.
Banking on Bitcoin
Metaplanet earned $1.4M worth of Bitcoins in revenue last week via Bitcoin options trading. 223 Bitcoin put options contracts with a $62,000 strike price and an expiration date of December 27, 2024, were sold by the firm. It will be recorded as revenue since this transaction earned 23.97 BTC in option premiums.
Metaplanet shares are trading about 988 JPY at the time of this writing, a 8% increase. Over the previous month, the stock’s price has remained relatively unchanged, but its year-to-date gains stand at 544%. Nevertheless, it is still selling at a 66% deficit from its May all-time high.
However, after positive US employment statistics on Friday, MicroStrategy shares shot up 8%, continuing their astounding rise this year. At the time of writing, Bitcoin is trading at $63,650, up 2.67% in the last 24 hours as per data from CMC. The price rebounded after finding support around the $60,000 mark.
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