{"id":329794,"date":"2024-06-24T12:17:53","date_gmt":"2024-06-24T06:47:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=329794"},"modified":"2024-06-24T12:17:53","modified_gmt":"2024-06-24T06:47:53","slug":"metaplanet-to-buy-7m-bitcoin-using-bond-sales-following-microstrategy-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/metaplanet-to-buy-7m-bitcoin-using-bond-sales-following-microstrategy-crypto-news\/","title":{"rendered":"Metaplanet To Buy $7M Bitcoin Using Bond Sales, Following MicroStrategy – Crypto News"},"content":{"rendered":"

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Metaplanet, a major Japanese investment company, has increased its Bitcoin holdings with a new purchase. This move highlights the firm\u2019s growing faith in Bitcoin as an important asset and aligns with the wider trend of more institutions investing in crypto<\/a>.<\/p>\n

On Monday, Metaplanet, sometimes called \u201cAsia\u2019s MicroStrategy,\u201d announced a massive \u00a51 Billion ($6.25 Million) Bitcoin buy. They funded this purchase using money from a recent bond sale. This decision shows Metaplanet\u2019s strategy of using Bitcoin to diversify its investments and protect against economic uncertainty.<\/p>\n

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Metaplanet\u2019s Strategic Bitcoin Acquisition Through Bond Sales<\/h2>\n

Metaplanet directors have earlier authorized a massive bitcoin purchase. It was announced earlier today on Monday plans to buy Bitcoin worth 1 billion yen, or about $6.25 million. The company said it would use money from a recent bond sale to make this purchase. Metaplanet aims to hold onto its Bitcoin for the long haul. However, if they end up using it for day-to-day operations or other needs, they\u2019ll list an equal amount as current assets on their books.<\/p>\n

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This isn\u2019t Metaplanet\u2019s first rodeo with Bitcoin. In the past two months alone, they\u2019ve bought Bitcoin three separate times. Metaplanet\u2019s last purchase<\/a> was 23.25 Bitcoin, worth around $1.59 million, which bumped their total Bitcoin stash to 141.07 BTC. With this latest buy on June 24, Metaplanet\u2019s Bitcoin holdings will jump to just over 240 BTC, worth about $15 million at current prices.<\/p>\n

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Also Read: Bitcoin Futures Cash-And-Carry Trade Profitability Tanks, Caution Ahead?<\/a><\/strong><\/p>\n

Bitcoin Market Dynamics & Metaplanet\u2019s Hedge Plan<\/h2>\n

Metaplanet has decided to buy Bitcoin as a way to protect itself from Japan\u2019s growing debt problems and the weakening yen. Japan\u2019s government owes a lot of money, and interest rates have been stuck below zero for a while now, which isn\u2019t great for the economy. Metaplanet hasn\u2019t bought nearly as much Bitcoin as MicroStrategy<\/a>, which owns a whopping 226,331 BTC, but people are still pretty interested in Metaplanet\u2019s choice to add Bitcoin to its financial holdings.<\/p>\n

Bitcoin\u2019s price<\/a> has taken a dip over a the past week, currently sitting at $62,633.31. Trading volume over the last 24 hours hit $14.3 billion, with the price falling 2.83% during the past 24 hours. We\u2019ve seen Bitcoin bounce between $63,403.78 and $62,424.49. The total market cap for Bitcoin now stands at $1.2 trillion.<\/p>\n

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Even with this downturn, Metaplanet\u2019s move into crypto looks smart. They might be able to capitalize on these lower prices, setting themselves up for good returns down the road if the market bounces back.<\/p>\n

Also Read: Charles Hoskinson Says \u201cCardano Is Waking Up\u201d As Sundae V3 Pulls Big Numbers<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Metaplanet, a major Japanese investment company, has increased its Bitcoin holdings with a new purchase. This move highlights the firm\u2019s growing faith in Bitcoin as an important asset and aligns with the wider trend of more institutions investing in crypto. On Monday, Metaplanet, sometimes called \u201cAsia\u2019s MicroStrategy,\u201d announced a massive \u00a51 Billion ($6.25 Million) Bitcoin […]<\/p>\n","protected":false},"author":2,"featured_media":329796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-329794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/329794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=329794"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/329794\/revisions"}],"predecessor-version":[{"id":329798,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/329794\/revisions\/329798"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/329796"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=329794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=329794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=329794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}