Metaplanet a Japanese investment firm has increased its Bitcoin holdings by adding $6.9 million BTC to its total stash.
This takes the total BTC holdings of Metaplanet to $32 million in BTC assets. In terms of Bitcoin assets, the Tokyo listed company simply acquired an additional 107.9 BTC taking its total holding of the asset to 506.7 BTC.
The investment firm recently made Bitcoin one of its investment vehicles and remains bullish on the world’s largest cryptocurrency.
The Tokyo-listed firm announced that it acquired its latest Bitcoin stash at an average price of $64,128 per BTC. At that price, its total bitcoin holdings of 506.745 bitcoin is worth about $32.2 million.
A company disclosure revealed that Metaplanet acquired its total stash of BTC assets at an average price of $64,931.
Meta planet’s stock witnessed a significant surge in value following the latest acquisition of BTC assets by the company.
The Company stock traded 4.24% higher so far on Tuesday currently changing hands for $6.97 according to Google Finance. The stock is still trading in the afternoon session. The Nikkei 225 index climbed 1.91% so far today.
Metaplanet’s BTC holdings are still relatively small because it announced BTC as its new alternative investment strategy in May this year. The planet has gone on a BTC buying spree since then growing its BTC stash to $32.2 million worth of BTC.
Michael Saylor’s Microstrategy remains the largest corporate holder of BTC with a staggering 252,220 BTC in its holdings. The second largest holder goes to Marathon Digital which holds 26,200 BTC.
Bitcoin Price Analysis
The onchain activities of Bitcoin Whales like Metaplanet have the power to influence the price action of Bitcoin. At the time of the report, Bitcoin is exchanging hands for $64,076 surging by 0.1% in the last 24 hours with a maximum price of $64,120 and a minimum price of $62, 872. The crypto asset is 13.3% down from its all-time high of $73,737
What to Know
- A crypto whale is a user that holds a significant amount of cryptocurrency. The community and investors watch crypto whales because they can significantly influence price movements. Whales can also create price volatility increases. Metaplanet with its $32.2 million worth of BTC assets is a crypto whale whose activities can influence Bitcoin Price.
- Bitcoin witnessed its best September in so many years last month with the price of the flagship asset surging to as high as $66,000 in a month which has been tagged as a historically poor month for Bitcoin.