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Metaplanet Targets 10,000 BTC Holdings, Bitcoin Bounces Back to $99K
January 6, 2025 – In a surprise move, Metaplanet, Asia’s largest corporate Bitcoin holder, has announced its plans to significantly increase its Bitcoin holdings by acquiring an additional 9,980.7 BTC by the end of this year. This bold strategy comes as the cryptocurrency market experiences a sudden surge in value, with Bitcoin (BTC) bouncing back to a staggering $99,364 per unit.
Metaplanet’s CEO, Simon Gerovich, revealed the company’s ambitious plans during a recent X interview, emphasizing its commitment to driving a movement towards widespread Bitcoin adoption. The announcement has sent shockwaves throughout the financial industry, as many analysts are left questioning the strategic rationale behind such an aggressive growth strategy.
While some may view this move as overly optimistic, it is clear that Metaplanet is undeterred by recent market fluctuations. In fact, the company appears to be doubling down on its Bitcoin holdings at a time when others are hesitating. As of today, Bitcoin’s 24-hour increase has surpassed 0.98%, with its market volume rising by over 22% to $25.07 billion.
Metaplanet’s decision to bolster its Bitcoin reserves comes as asset managers VanEck and Bitwise predict that the cryptocurrency could potentially surge to $180,000-$200,000 by the end of this year. According to these predictions, any strategic adoption of Bitcoin by the United States would likely have a profound impact on global markets.
The company’s shares have seen a notable 27.5% increase since it began its Bitcoin acquisition strategy in April 2024, with an average purchase price of $77,196 per unit.
Source: www.cryptonewsz.com
