Metaplanet Buys More Bitcoin, Bringing Total BTC to Nearly 640, Sending Stock Up Over 10%! 🚀

- On October 7, Metaplanet announced the purchase of another 108.78 BTC worth approximately $6.92 million.

- Dubbed the “MicroStrategy of Asia,” Metaplanet has accumulated over 215 BTC over the past week.

- Their current BTC holdings are 639.5 BTC, worth approximately $40.5 million.

Metaplanet stock rose over 11% on October 7, hitting an intraday high of 1,047 Japanese yen (~$7).

- Metaplanet to Start Using Bitcoin as a Strategic Reserve Asset in May 2024.

- The stock is up over 532% year-to-date.

Last week, Metaplanet sold Bitcoin put options, making another 23.97 BTC (~$1.46 million).

- CEO Simon Gerovich says the strategy increases BTC reserves without increasing financial risk.

- Partnering with SBI Holdings to enhance crypto trading, storage, and management capabilities.

What do you think of Metaplanet's strategy? Comment now! 💬#Bitcoin#Crypto #Metaplanet