Japanese Bitcoin treasury company, MetaPlanet, acquires another 160 BTC, worth $13.5M. Their most recent purchase brings their total holdings to 4,206 BTC, or $346M worth. The purchase comes just a day after a series of transfers into the same address of ~696 BTC, worth $58.4M.
These purchases are part of their Bitcoin acquisition strategy as part of their business model as a Bitcoin treasury company. MetaPlanet makes purchases of Bitcoin on a roughly weekly basis, via Tokyo-based centralized exchange, bitFlyer, or over-the-counter (OTC) trading desk, QCP Capital.
Despite their much smaller size, MetaPlanet has been dubbed “Japan’s MicroStrategy”, due to their similarity to Michael Saylor’s Strategy (formerly MicroStrategy). On the BTC run up over the past year, MetaPlanet has similarly seen a surge in its stock price. Its stock has risen over 1,860% over the past year alone, despite having seen a 41% decline since the start of February.
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