Another Bitcoin Shark Plays It Big- Metaplanet Spends Another $26M Buying Bitcoin

Another Bitcoin shark in the market after MicroStrategy. Tokyo-based Metaplanet bought 269.43 bitcoin, flaunting its strength as a global investor. The angel spent a net of 4 billion yen for the recent purchase. Now Metaplanet’s total Bitcoin holding is 2,031.41 BTC.

Metaplanet is all set to create the biggest Asian Bitcoin pool. With that objective, the investor started buying Bitcoin in batches in April 2024. The Bitcoin purchase fund so far is 24.9 billion yen. The average price of each coin remains at 12.2 million yen.

Technical Analysis 

Metaplanet is planning to move the bitcoin stock upwards. The ratio of BTC holdings to shares outstanding decides the Bitcoin yield of the firm.

In the last 3 months, Bitcoin’s yield has been 310%. Meanwhile, the financial year started with a Bitcoin yield of 15.3%. Frequently planned purchases have converted Metaplanet into a Bitcoin shark today.

The Fundraiser

In January, Metaplnet organized a huge fundraiser event, accumulating around $745 million. 21 million new shares were dissolved to collect the funds. A lot of investors found a reflection of MicroStrategy’s funding strategy in this move.

The latest buy would place Metaplnet in a position of high popularity in the Japanese fiscal sector. Following the same suit, Remixpoint purchased Bitcoin worth 9 billion yen last year.

Now Metaplanet ranks 16th on the list of the OG Bitcoin investors.

After the purchase, their share value increased 2.2% on Monday. The trendline shows that another buying drive may come soon. Traders keep their eyes open. Such drives can move the Bitcoin prices upwards.