{"id":824,"date":"2024-10-08T04:02:19","date_gmt":"2024-10-08T04:02:19","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=824"},"modified":"2024-10-08T04:02:19","modified_gmt":"2024-10-08T04:02:19","slug":"asias-microstrategy-metaplanet-increases-bitcoin-holdings-with-6-7m-btc-purchase","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=824","title":{"rendered":"\u201cAsia\u2019s MicroStrategy\u201d Metaplanet Increases Bitcoin Holdings With $6.7M BTC Purchase"},"content":{"rendered":"
\n

Japanese investment firm Metaplanet has added another 108.78 Bitcoin (BTC) to its existing holdings, bringing its total reserves to over 639 BTC.<\/p>\n

Metaplanet Unfazed By Bitcoin Price Movement<\/h2>\n

In an announcement<\/a> made on October 7, 2024, Tokyo-based Metaplanet revealed that it had purchased an additional $6.7 million worth of Bitcoin, adding 108.78 BTC to its existing reserves.\u00a0<\/p>\n

The development comes at a time when geopolitical tensions in the world are at a rise, putting to test Bitcoin\u2019s \u201cglobal currency\u201d narrative. However, some experts view this time as a buying opportunity<\/a> for BTC, and Metaplanet\u2019s actions appear to support this perspective.<\/p>\n

It is also worth noting that October \u2013 historically a bullish month for BTC prices \u2013 has not had the best start this year. Nevertheless, bulls are confident<\/a> of price gains toward the latter part of the month.<\/p>\n

These developments appear to have little effect on Metaplanet\u2019s Bitcoin thesis. Notably, the firm\u2019s stock price surged following the latest BTC purchase, closing the day up 7.86%, with gains of 72 JPY (Japanese yen) or $0.49 USD.<\/p>\n

\"metaplanet\"<\/p>\n

Metaplanet has been on a Bitcoin buying spree this month, as it scooped up more than 107 BTC on October 1. Further, on October 3, the firm disclosed<\/a> that it had earned around 23.9 BTC \u2013 worth almost $1.5 million at the time \u2013 by selling Bitcoin put options and collecting premiums.\u00a0<\/p>\n

Metaplanet\u2019s total Bitcoin holdings now stand at almost 640 BTC, worth over $40 million according to current market price of $63,720. The latest purchase has also elevated<\/a> Metaplanet to 17th position in the list of publicly-listed companies with Bitcoin holdings.<\/p>\n

According to the list, companies with the largest BTC reserves are MicroStrategy, Marathon Digital Holdings, Galaxy Digital Holdings, Tesla, and Coinbase.<\/p>\n

\"Bitcoin<\/p>\n

Japan Wants To Attract Crypto Capital By Easing Regulations<\/h2>\n

Japan, known for its receptive attitude toward new and emerging technologies, has not had the best experience with digital assets, particularly following the infamous Mt. Gox hack in 2014.<\/p>\n

However, Japan has recently expressed a desire to overhaul its stringent crypto regulatory framework. This is not surprising, as a recent survey found<\/a> that the majority of Japanese institutional investors are considering entering the crypto space within the next three years.<\/p>\n

Earlier this month, Japan\u2019s Financial Service Agency (FSA) shared<\/a> plans to reform the country\u2019s regulations toward crypto gaming to stimulate growth in the blockchain gaming sector.<\/p>\n

On October 2, an insider from the FSA said<\/a> the financial watchdog is considering reviewing existing digital asset regulations, potentially paving the way for a crypto exchange-traded fund (ETF) and lower taxes on crypto gains. At press time, BTC trades at $63,720, up 1.9% in the last 24 hours.<\/p>\n

\"bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Japanese investment firm Metaplanet has added another 108.78 Bitcoin (BTC) to its existing holdings, bringing its total reserves to over 639 BTC. Metaplanet Unfazed By Bitcoin Price Movement In an announcement made on October 7, 2024, Tokyo-based Metaplanet revealed that it had purchased an additional $6.7 million worth of Bitcoin, adding 108.78 BTC to its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-824","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=824"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/824\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}