Whales continue to show increasing confidence in Bitcoin. Today, according to data reported by Lookonchain, Metaplanet, a renowned Japanese investment firm, has bought an additional 1,241 Bitcoin worth $125 million at a price of $100,967 per coin.
Metaplanet’s aggressive Bitcoin strategy
Metaplanet issued additional multi-million zero-interest bonds for the latest BTC purchases. The bold move shows that the firm continues to position itself as a global leader in corporate Bitcoin acquisition.
The firm relies on Bitcoin’s long-term value to support its expansion strategy, using debt to develop its digital currency portfolio. This long-term strategy to acquire BTC highlights the firm’s dedication to the digital asset as part of its corporate treasury.
The company’s latest move aligns with its strategy to follow the footprints of the American Bitcoin-focused firm Microstrategy. Similar to its US counterpart, Metaplanet focuses on Bitcoin as part of its core corporate strategy.
Last month, April 14, Metaplanet acquired an additional 319 Bitcoin to boost its holdings. Also, last week, on May 7, it added Bitcoin worth $53.4 million to its portfolio. These acquisitions are part of a grand plan to buy 21,000 BTC by 2026 – a symbolic target emulating Bitcoin’s 21 million coin cap.
Today, Metaplanet holds 6,796 BTC valued at $613.3 million, making it the largest corporate Bitcoin holder in Asia and 10th worldwide.
BTC surge amid institutional interest
The crypto market has remained active as Bitcoin institutional confidence continues to rise. Metaplanet’s latest activity highlights BTC’s consistent accumulation by institutions. This acquisition happens at a time when Bitcoin keeps pushing its resilience, currently, its value standing at $104,560 after a 10.4% rise over the past week. Its trading volume also surged 23.60% from yesterday indicating increased participation from market users.
This ongoing acquisition showcases robust institutional confidence in BTC’s long-term value, which holds ongoing bullishness in the wider crypto market. These continued institutional purchases are a crucial signal, pointing to growing upside trends and improved market stability.
