Metaplanet Continues to Purchase Bitcoin

Japan-based company Metaplanet continues to purchase BTC by purchasing 555 more Bitcoins.

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Introduction

Japan-based company Metaplanet continues to purchase Bitcoin. The company, which has an accumulation strategy on Bitcoin, is acting quite aggressively in this regard. The company increased its total assets to 5,555 BTC by purchasing 555 more BTCs in its latest purchase. The value of 5,555 Bitcoins exceeds $536 million at the current market average price.

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Metaplanet and Bitcoin

Metaplanet announced that it spent $53.4 million to purchase 555 Bitcoins at an average price of $96,134. The company, which made the announcement on May 7, is also traded on the Tokyo Stock Exchange. According to the company's CEO Simon Gerovich, the company holds 5,555 BTC as reserves. and purchased these assets for a total of $481.5 million at an average price of $86,672.

The company also finances its BTC purchases with the funds it raises. Metaplanet has raised over $244 million through zero-coupon bonds and equity rights through its partner Evo Fund. The company’s recent purchase of 555 BTC is said to have a similar connotation to the Japanese pronunciation of the number five (go). Following these rumors, Simon Gerovich’s post on social media platform X, “In Japanese, the number 5 is pronounced ‘Go,’ so today we’re shouting: Go go go go — to the moon and beyond!” attracted considerable attention.

Metaplanet is the largest publicly traded Bitcoin holder in Asia and 11th globally. The company also aims to establish a wholly-owned US subsidiary, Metaplanet Treasury, based in Florida. The aim of this entity is to advance its Bitcoin strategy and access US capital markets.

Conclusion

The recent increase in Bitcoin purchases by Metaplanet and similar corporate companies is a sign that Bitcoin is being adopted as a reserve and value asset in the long term and that this adoption will continue to increase. This will have a significant impact on the Bitcoin price in the long term.

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Referral Brotherhood

The author, who has been following the Blockchain Technologies and Cryptocurrency world since 2010, founded the "Referral Brotherhood" platform in 2021. Later, the platform grew and took on a global identity. The author, who loves Science, History and Astronomy, conducted mathematical studies on Fibonacci numbers and developed certain algorithms. In 2022, he discovered the application called "Crypto Bull vs Bear Index" and the first stable version of the application, V.1.0, was published on the "Referral Brotherhood" platform on 09.05.2022. In this way, he filled a big gap in the cryptocurrency ecosystem. The author, who received training in web design and website management, SEO, SEM, Technical and Fundamental analysis, Blockchain technologies and digital marketing, is proficient in HTML and Pinescript programming languages. blogger

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