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Metaplanet Expands Bitcoin Holdings Amid Institutional Demand
In a significant move, Metaplanet has become the fifth-largest publicly listed corporate Bitcoin holder after acquiring 1,005 additional Bitcoins. The latest purchase takes the company’s total holdings to an impressive 13,350 BTC.
The acquisition was made at an average price of $107,601 per Bitcoin, which translates to around $108 million. This development highlights Metaplanet’s commitment to increasing its Bitcoin reserves.
As a result of this transaction, Metaplanet now surpasses Galaxy Digital and CleanSpark in terms of publicly listed corporate Bitcoin holdings. The company’s year-to-date gains have reached an astonishing 370%, with the stock price surging by 53% over the past month alone.
This acquisition comes amid a broader wave of institutional and corporate purchases of Bitcoin, which is expected to drive future demand for the cryptocurrency.
Source: www.coinspeaker.com
