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Metaplanet buys the dip with 620 BTC
MicroStrategy’s Bitcoin strategy has inspired many companies to follow suit, and Metaplanet is the latest example of a US-listed company to buy the dip. The company has announced that it purchased an additional 620 Bitcoins, worth approximately $37 million at current prices.
The purchase comes as part of Metaplanet’s efforts to grow its Bitcoin holdings and improve shareholder value through diversification. The company’s strategy is centered around acquiring and holding Bitcoin as a treasury asset, much like MicroStrategy has done with its own impressive stash.
Metaplanet’s bold move underscores the growing trend of large corporations embracing digital currencies, which were once seen as an alternative for retail investors only. By accumulating massive amounts of Bitcoin, these companies aim to hedge against inflation and potentially benefit from the cryptocurrency’s price fluctuations.
Interestingly, this recent purchase is not Metaplanet’s first foray into the world of cryptoassets. The company has been gradually increasing its exposure since the beginning of the year and now holds a substantial 439,000 Bitcoins.
Source: coinjournal.net
