Metaplanet, a publicly traded investment and advisory company headquartered in Japan, is maintaining its strategy of “seize the opportunity” in light of Bitcoin’s recent challenges.
As Bitcoin struggles to surpass the $60,000 threshold, its price recently dropped to $56,497.76, marking a 0.915% decrease over the past 24 hours, as per data from CoinMarketCap.
Metaplanet Expands Bitcoin Holdings
Despite this setback, Metaplanet has taken advantage of the situation by expanding its Bitcoin reserves to nearly 400 BTC.
This move has had a positive effect on its stock price, which rose by 5.9% on the Tokyo Stock Exchange.
Metaplanet’s recent acquisition of BTC underscores the investment strategy termed “seize the opportunity.”
This tactic involves acquiring assets when their prices fall, with the expectation that their value will appreciate in the future.
By leveraging Bitcoin’s recent decline and increasing its holdings, Metaplanet demonstrates faith in the long-term potential of the cryptocurrency, despite the current market volatility.
This strategy showcases confidence in the enduring value of BTC and reflects a tendency to purchase assets during price dips for future gains.
What Does the Data Indicate?
According to the latest report released on September 10th, Metaplanet purchased 38.46 Bitcoin for $2.1 million (300 million Japanese Yen).
This acquisition boosted their total holdings to 398.8 BTC, valued at around $23 million.
Additionally, data from Bitcoin Treasuries indicates that Metaplanet initiated its Bitcoin acquisitions on April 23rd and made its tenth purchase on September 10th.
As a result, Metaplanet now holds the 27th largest corporate Bitcoin reserves globally and ranks third in Asia.
The Impact
Despite this significant accumulation, the company’s stock price experienced a marginal decline of 0.45%, trading at 1,096 JPY, while Bitcoin also faced a downturn.
Nevertheless, Metaplanet’s stock price has surged by 480% since the organization first revealed its Bitcoin investment strategy in early April, according to MarketWatch.
In May, Metaplanet unveiled its plan to bolster its BTC reserves by embracing a diverse array of capital market instruments, mirroring the strategy adopted by MicroStrategy.
MicroStrategy Grows BTC Holdings
Unsurprisingly, MicroStrategy, the largest corporate holder of Bitcoin, recently published its financial results for the second quarter of 2024.
The report highlighted MicroStrategy’s ongoing commitment to expanding its BTC holdings.
“Following another successful quarter for our bitcoin strategy, MicroStrategy now possesses 226,500 bitcoins, representing a current market value 70% higher than our cost basis. We continue to be laser-focused on our Bitcoin development strategy and plan to sustain positive ‘BTC Yield.'”
This trend showcases how institutional investors are augmenting their BTC holdings despite short-term price fluctuations, indicating a potential bullish trajectory for Bitcoin in the near future.
What Lies in Store for Bitcoin?
An analysis conducted by CryptoCrypto, utilizing insights from IntoTheBlock, reveals that a significant majority (78.88%) of Bitcoin holders are presently “in profit,” possessing tokens valued above their purchase price.
Conversely, only 17.51% of holders are “at a loss,” with tokens valued below their initial investment.
This data further reinforces the expectation that Bitcoin may witness a positive upturn in value soon.