Metaplanet Acquires 797 Bitcoin as BTC Surpasses $120K
Finance/Markets

Metaplanet Acquires 797 Bitcoin as BTC Surpasses $120K

The Japanese firm Metaplanet has bought 797 Bitcoin, increasing its total holdings to an impressive 16,352 BTC.

Metaplanet, a leading corporate holder of Bitcoin in Japan, has notably added 797 BTC, valued at approximately $96 million, to its portfolio. This acquisition increases the company’s total Bitcoin holdings to 16,352 BTC, worth nearly $2 billion.

Simon Gerovich, the CEO of Metaplanet, recently discussed the company’s strategy, indicating that it plans to utilize these extensive Bitcoin holdings as collateral to finance the acquisition of cash-generating companies in digital financial services.

Key Points:

  • The latest purchase elevates Metaplanet’s total Bitcoin to 16,352 BTC.
  • Gerovich stated the aim is to leverage their assets for further acquisitions.

Metaplanet’s strategy reflects a method similar to that of Strategy (MSTR), where they accumulate Bitcoin through equity and debt options and then use this base for broader fiscal growth.

Japan (CoinDesk Archives)

For detailed information, refer to Metaplanet Wants to Use Bitcoin Holdings for Acquisitions: FT.

Next article

Bitcoin Surges Past $120,000, Analysts Predict Further Upswing

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