As a seasoned crypto investor with a penchant for spotting trends and staying ahead of the curve, I find the latest move by Metaplanet, Japan’s MicroStrategy equivalent, nothing short of intriguing. Having witnessed the meteoric rise of Bitcoin over the past decade, I can’t help but feel a sense of validation seeing institutions like Metaplanet jumping on the Bitcoin bandwagon.
According to the latest statement from its CEO, Simon Gerovich, Metaplanet – often referred to as Japan’s equivalent of MicroStrategy – has bought an extra 108.786 Bitcoin for approximately $6.7 million.
The publicly traded company already holds $40.6 million worth of Bitcoin, according to recent data.
Currently, Bitcoin is being traded at approximately $63,419, following a 2.3% increase over the last 24 hours as per the information from CoinGecko.
Back in May, the financial consultant based in Tokyo began implementing an approach to investing in Bitcoin similar to that used by MicroStrategy.
The shares of Metaplanet are up more than 10% following the most recent Bitcoin purchase.
Previously this month, Gerovich expressed his belief that every institution globally will eventually include Bitcoin in their financial holdings. He further emphasized, “It’s not a question of ‘if’, but ‘when’.
More recently, Metaplanet has partnered with SBI VC Trade, a division of the colossal Japanese financial group SBI, focusing on Bitcoin trading and safekeeping.
As per a current report from River Financial, it is indicated that over 3% of the entire Bitcoin supply is being held by businesses at present.
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2024-10-07 09:14