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Bitcoin Investment: Metaplanet Boosts Holdings to 1,761 BTC as Price Drops Below $95,000
Tokyo-based investment firm Metaplanet Inc. has recently increased its Bitcoin holdings by acquiring a substantial amount of the cryptocurrency. The move comes amidst declining prices, with Bitcoin currently trading at $94,106.94, marking a 1.72% daily decline.
According to reports, Metaplanet acquired 619.7 BTC in this latest transaction, which brings the company’s total holdings to an impressive 1,761.98 BTC. This significant increase in Bitcoin reserves comes after a recent bond issuance of $60.6 million, which was used to fund the purchase.
The acquisition has seen the value of Metaplanet’s Bitcoin holdings surge to approximately $167.1 million at current market rates. This move demonstrates the firm’s ongoing commitment to expanding its treasury reserve strategy.
Metaplanet’s decision to boost its Bitcoin holdings despite recent price fluctuations highlights the company’s confidence in the long-term potential of the cryptocurrency. It is essential for investors to take note that Metaplanet’s latest acquisition does not constitute financial or investment advice.
Despite this significant move, it is worth noting that Metaplanet is still far behind the largest holder of Bitcoin, Matador Technologies, which has a substantial 439,000 BTC in its reserves.
Source: cryptonewsland.com
