Investments themed around Bitcoin are continuing to thrive in the Far East in Japan, where the company Metaplanet has announced a new stock of Bitcoin.
The public company based in Tokyo has purchased 21.88 BTC for a value of 1.2 million dollars, bringing the total to 225.61 cryptographic coins.
Let’s see all the details below.
Metaplanet accumulates Bitcoin worth 1.2 million dollars
This morning at 09:05 in Tokyo, the company Metaplanet, whose business revolves around Bitcoin, announced new investments in Japan.
As part of its “strategic transformation” process that sees adopting the main cryptocurrency as an reserve asset, the company has purchased a total of 21.88 BTC.
This move, with a monetary value of 1.2 million dollars (200 million Japanese yen), has helped to support the recent price rise of the currency.
It is an increase of 2.8% in its Bitcoin holdings, with the average purchase price at 62,890 dollars.
The buying session seems to follow the same DCA pattern used by the US company Microstrategy. The investment firm based in Japan has in fact made 6 different buys from April 23 to today, with the last 3 in July.
In total now Metaplanet owns 225.61 BTC, equivalent to 14.3 million dollars.
*Metaplanet purchases additional 21.88 $BTC* pic.twitter.com/zCXzKFudog
— Metaplanet Inc. (@Metaplanet_JP) July 16, 2024
It is worth noting how this policy of adopting the Bitcoin standard is allowing MetaPlanet to record excellent performance in the stock market.
The company, which today capitalizes a whopping 18.5 billion dollars, has seen its shares grow by 200% since it purchased its first BTC.
In today’s session it marks a notable +9.68%, despite the quotations being pushed back to the 120 JPY area down to 102 JPY:
In the early hours of the Tokyo stock exchange, the stock recorded an impressive growth of about 25%, before encountering strong selling pressure from the bears.
We remember that Metaplanet reached its all-time high several years ago in February 2006, when the shares marked a value of 40,800 JPY.
Source: https://it.tradingview.com/chart/1hwwyywT/?symbol=TSE%3A3350
Cryptographic investments continue in Japan
The purchases in Bitcoin by Metaplanet are not the only cryptographic investments observed lately in Japan.
At the beginning of the month, the Japanese division of the technology company Sony announced the preparations for the launch of a new crypto exchange.
Sony wants to rename the WhaleFin trading platform acquired last year, launching its own business focused on cryptocurrency trading.
Currently, work is underway to redesign the graphical interface of the broker and integrate a simple and intuitive mobile app even for less experienced customers.
The new exchange will be called S.BLOX Co, and it will be integrated with other activities of the Sony group to create added value.
JUST IN:
Sony to launch crypto exchange in Japan.
— Watcher.Guru (@WatcherGuru) July 1, 2024
Already by itself, this type of investment can be enough to give an idea of what Japan’s attitude is towards the digital asset sector.
Dozens of public and private entities are joining Sony and Metaplanet, considering making a leap towards the Bitcoin and crypto industry.
In this regard, according to a recent survey conducted by Nomura Holdings and Laser Digital, 54% of institutional managers in Japan are planning various types of investments.
The study contacted as many as 547 investment managers, including institutional investors, family offices, and public utility companies.
It seems at least evident that the attention for this sector follows a growing trend as cryptographic assets take on a more institutional appearance.
In the coming years, we might witness an immense technological growth in Japan, with Tokyo positioning itself to become one of the most appreciated cryptographic hubs in the world
In a groundbreaking survey, a staggering 54% of Japanese institutions have expressed their intent to dive into the world of #cryptocurrencies within the next three years. This marks a significant… pic.twitter.com/39X4KnEboh
— YG crypto (@ygcrypto) June 25, 2024
The entities with the most Bitcoin held in the world
According to the data from Coingecko, the Japanese company Metaplanet appears in 21st place as the largest participant in Bitcoin investments worldwide, despite the latest purchase of 21.88 BTC still needing to be counted.
This ranking does not seem to take into account some entities such as Galaxy Digital, Semler Scientific, Mercadolibre, and many others.
Observing instead the data from the platform “Bitcointreasuries.net”, Metaplanet ranks 30th among the largest holders of Bitcoin, behind Cypherpunk Holdings and Advanced Bitcoin Technologies. Here too the data needs to be updated with the latest accumulation from this morning.
Source: https://bitcointreasuries.net/
Among the largest corporate holders of Bitcoin in the world, Microstrategy, Marathon Digital, and Tesla stand out.
The company of Michael Saylor shows a significant detachment from the rest of the group, holding a total of 226,331 BTC, equivalent to 14.3 billion dollars.
Marathon and Tesla instead hold respectively 18,536 BTC and 9,720 BTC, equal to 1.17 billion and 617 million dollars.
Below the top 3 we then see the exchange Coinbase, and the various miners Riot, Hut8, Block, Cleanspark.
Note how the top 5 public companies in the world are all American, demonstrating that the USA still has the most thriving market today.
Metaplanet at the moment represents the largest company in Japan according to the ranking. To tell the truth, however, there is a private company that still today in Japan holds the record for the largest cryptographic investments.
We are talking about Mt.Gox, a historic cryptocurrency exchange that went bankrupt in 2014, which is organizing payments to its creditors these days.
Once this bureaucratic step is completed, Metaplanet will become in all respects the entity with the most Bitcoin on the balance sheet in Japan, ready to accumulate more coins.
