Metaplanet Buys Another 107 Bitcoin, Pushing Stock-BTC Ratio to 20%.
Japanese firm Metaplanet said earlier Tuesday it had purchased an additional 107 bitcoin (BTC), worth $6.9 million at current prices, at an average price of 9.26 million yen ($64,168) per BTC.
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Metaplanet's aggressive approach to accumulating Bitcoin positions it as a notable player in the cryptocurrency space, often compared to MicroStrategy for its similar investment strategy. By leveraging Bitcoin as a principal treasury reserve asset, Metaplanet aims to enhance its corporate governance and utilize excess cash flow effectively . This move not only diversifies its asset base but also aligns with broader trends of institutional adoption of cryptocurrencies.
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