A Japanese investment firm that’s been dubbed the Asian country’s answer to MicroStrategy—the American software firm that pioneered the Bitcoin treasury reserve strategy—has bought even more BTC.
Metaplanet, a publicly-traded company listed on the Tokyo Stock Exchange, said Monday that it had bought 108.786 Bitcoin for 1 billion yen ($6.7 million). It now holds 639.5 Bitcoin, today worth over $40 million.
The company offers specialized consulting services to assist businesses in adopting the biggest digital asset by market cap.
Metaplanet took a page out of MicroStrategy’s playbook of putting Bitcoin on its balance sheet back in April when it bought 1 billion yen worth of the asset.
Business intelligence firm MicroStrategy (MSTR) has purchased 7,420 Bitcoin (BTC) for approximately $458.2 million, bringing the company’s total holdings to 252,220 BTC, with an average purchase price of $39,266 per coin.
With the purchase, MicroStrategy has only emphasized its status as the largest corporate treasury reserve holder of Bitcoin, with its stash of BTC now valued at $15.9 billion as of this writing.
An SEC filing on Friday also revealed that MicroStrategy raised $1.01 billion throu...
The Japanese firm said at the time it was part of a strategy of not just “embracing digital assets, but also about pioneering a future where finance meets innovation at its core.”
The company has since been dubbed Asia’s answer to MicroStrategy, the largest public holder of Bitcoin, even though Metaplanet’s holdings currently pale in comparison to those of its inspiration. MicroStrategy currently holds 252,200 Bitcoin—or $15.9 billion worth of “digital gold.”
The Tyson, Virginia-based MicroStrategy started buying Bitcoin in 2020 as a way to get the best results for shareholders, instead of holding excess cash. Its stock has surged as a result and now the firm, which sells data-analyzing software, has rebranded itself as a “Bitcoin development company.”
Proud to share our #Bitcoin per share (in satoshis). Each bar represents our Bitcoin holdings per share, showing a steady increase since our adoption of the Bitcoin standard. Our goal is to keep growing our BTC per share for long-term shareholder value @Metaplanet_JPpic.twitter.com/afkOSVkIsV
It uses debt to buy Bitcoin to securitize the asset—allowing investors to get exposure to the cryptocurrency via buying shares of the company—and its co-founder and chairman Michael Saylor tells other companies to do the same.
Coinbase has now overtaken two of the world's largest securities exchanges in terms of transaction revenue, according to a crypto analyst from the private bank Coutts.
The crypto exchange generated $5.75 billion in transaction revenue over the past 12 months, compared to just $4.54 billion for the Nasdaq, where many of the world’s most valuable companies, including Apple, Google, and Microsoft, are traded.
Coinbase also surpassed the Stock Exchange of Hong Kong, the HKEX, which generated $2.67 b...
After several extended reviews since June this year, the Securities and Exchange Commission (SEC) has finally approved the first spot exchange-traded funds combining Bitcoin and Ethereum.
The agency has authorized Nasdaq to list the Hashdex Nasdaq Crypto Index US ETF and the Cboe BZX Exchange to list the Franklin Crypto Index ETF, according to a filing released Thursday.
"The proportion of bitcoin and ether to be held by each Trust will be based on free-float market capitalizations," the filing...
Dogecoin (DOGE) fell 12.4% in the past 24 hours as a broader market decline continues, triggered by the Federal Reserve's latest economic outlook.
The meme coin has dropped to $0.31, while trading volume surged 67% to $10.25 billion as holders repositioned their bags. It's now down 35% from its 2024 high of $0.47.
Despite the pullback, Dogecoin's market capitalization remains at $46.6 billion, maintaining its position as the seventh-largest crypto.
Powell's hawkish comments about higher-than-exp...
