- Metaplanet buys another $15 million worth of BTC at $112,149.
- The entity is known as the Japanese Strategy due to its rapid BTC accumulation.
- This brings Metaplanet’s total BTC holdings to $2.27 billion worth of BTC.
The entity known as Japan’s MicroStrategy makes another bold buy BTC move. In detail, Metaplanet buys another $15 million worth of BTC at $112,149, bringing the entity’s total BTC holdings to $2.27 billion worth of BTC at an average price of $102,467. Just like Strategy and El Salvador, Metaplanet is one of the most bullish entities, ensuring to hold a large chunk of the total BTC supply.
Metaplanet Buys Another $15 Million Worth of BTC
Ever since the last bull cycle, Bitcoin (BTC) accumulation has gained momentum increasingly. To highlight, BTC accumulation outside of whales and traders can be traced back to when El Salvador announced that it was making BTC a legal tender within its borders and began to aggressively buy BTC. It encouraged its citizens to buy and hold BTC as well with a specially developed Chivo Wallet.
El Salvador did not stop there, they began to ethically mine BTC as well, using the geothermal power of its volcanoes, thus sustainable mining BTC. At the end of the previous bull cycle, the country improved the state of its nation using Bitcoin profits, and continued to buy BTC whenever the opportunity presented itself. In fact, the country is still buying BTC regularly to this day.
The vision of El Salvador’s President, Nayib Bukele, inspired their institutions and entities to become Bitcoin advocates themselves. For instance, Strategy’s Michael Saylor followed Bukele’s lead and began to accumulate BTC at a rapid pace, promising to hold it forever. He believes by holding BTC the value of the asset will keep climbing until it hits $1 million and higher. Similarly, other countries joined the BTC accumulation race as well.
Metaplanet Holds a Total of $2.27 Billion Worth of BTC
While many began to accumulate BTC as a treasury like Strategy, others began to accumulate BTC due to the success of Bitcoin ETFs that began this bull cycle, leading to a fueled race of holding BTC. These entities include BlackRock, Fidelity, VanEck, and several others. With such drastic BTC accumulation on the rise, analysts believe that the crypto market will soon experience a major supply shock for BTC.
As we can see from the post above, Japan’s Metaplanet is among the leading entities to accumulate BTC, alongside Strategy, earning it the title of the Japanese Strategy. In detail, Metaplanet just purchased $15 million of BTC at $112,149 and now hold $2.27 billion BTC bought at an average price of $102,467. Much like El Salvador and Strategy, Metaplanet will likely continue to accumate BTC without slowing down.
