{"id":52231,"date":"2024-12-24T01:05:00","date_gmt":"2024-12-24T01:05:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/metaplanet-biggest-ever-620-bitcoin-buy"},"modified":"2024-12-24T03:48:13","modified_gmt":"2024-12-24T03:48:13","slug":"metaplanet-buys-the-dip-with-biggest-ever-620-bitcoin-buy","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=52231","title":{"rendered":"Metaplanet buys the dip with biggest-ever 620 Bitcoin buy"},"content":{"rendered":"

Japanese investment firm Metaplanet made its largest-ever Bitcoin purchase, scooping up almost 620 Bitcoin as the cryptocurrency trades below $100,000.<\/p>\n

On Dec. 23, Metaplanet announced that it had bought 619.7 Bitcoin (BTC) worth just under $60 million, with Bitcoin trading at around $96,000.<\/p>\n

It was the largest single purchase the firm has made since it started buying Bitcoin in May and nearly quadrupled the value of its previous record buy of 159.7 BTC on Oct. 28, according to Bitbo data.<\/p>\n

Metaplanet has been dubbed \u201cAsia\u2019s MicroStrategy\u201d after the American Bitcoin-buying firm and the recent purchase brings the Tokyo-based company\u2019s total Bitcoin holdings to 1,762 BTC, worth about $168 million, with an average purchase price of around $75,600 per BTC.<\/p>\n

The latest buy makes its Bitcoin stack the 12th-largest among public companies, behind medical tech maker Semler Scientific.<\/p>\n

Metaplanet reported that from Oct. 1 to Dec. 23, its BTC Yield was 310%, considerably higher than the 41.7% yield from July to September.<\/p>\n

Metaplanet uses BTC Yield to \u201cassess the performance of its Bitcoin acquisition strategy, which is intended to be accretive to shareholders,\u201d it stated.<\/p>\n

\"Japan\"
Metaplanet BTC Yields. Source: <\/em>Metaplanet<\/em><\/p>\n<\/figcaption><\/figure>\n

On Dec. 18, the Japanese investment firm projected that it would turn its first operating profit since 2017, adding that it wanted to go beyond just buying Bitcoin as part of its treasury strategy.<\/p>\n

In an investor disclosure, the firm said it would establish \u201cBitcoin accumulation and management\u201d as a formal business line, including loans, equity, convertible bonds and other financial instruments to purchase and hold BTC.<\/p>\n

In late November, Metaplanet said it planned to raise over $62 million (9.5 billion Japanese yen) through a stock acquisition program to purchase more Bitcoin for its treasury.<\/p>\n

Related: <\/strong><\/em>Metaplanet becomes Asia\u2019s second-largest corporate Bitcoin holder<\/strong><\/em><\/p>\n

Metaplanet\u2019s stock price jumped 5% on the Tokyo Stock Exchange following its announcement but remains down almost 13% over the past week, according to Google Finance.<\/p>\n

Still, shares in the firm have surged more than 2,100% this year amid its adoption of Bitcoin, hitting an all-time high of 4,080 Japanese yen ($26) on Dec. 17.<\/p>\n

Magazine: <\/strong><\/em>BTC correction \u2018almost done,\u2019 Haliey Welch speaks out, and more: Hodler\u2019s Digest<\/strong><\/em><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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Japanese investment firm Metaplanet made its largest-ever Bitcoin purchase, scooping up almost 620 Bitcoin as the cryptocurrency trades below $100,000. On Dec. 23, Metaplanet announced that it had bought 619.7 Bitcoin (BTC) worth just under … Metaplanet buys the dip with biggest-ever 620 Bitcoin buy<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":52236,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-52231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nMetaplanet buys the dip with biggest-ever 620 Bitcoin buy - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=52231\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Metaplanet buys the dip with biggest-ever 620 Bitcoin buy - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Japanese investment firm Metaplanet made its largest-ever Bitcoin purchase, scooping up almost 620 Bitcoin as the cryptocurrency trades below $100,000. 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