Mentioned:
One of the most exciting publicly traded companies in Asia is buying more Bitcoin. And they aren’t showing any signs of slowing down, either.
What’s happening:
- Metaplanet (OTCQX: MTPLF) has purchased $117M USD of Bitcoin to hold directly as an asset
By the numbers:
- Metaplanet now holds a total of 8,888 Bitcoin
- Metaplanet’s average cost basis on all of their Bitcoin holdings is roughly $93,000 USD per Bitcoin
Why it matters:
- Metaplanet is the largest holder of Bitcoin amongst all publicly listed companies in Asia and one of the largest publicly traded holders of Bitcoin in the entire world
Going deeper:
- Metaplanet previously made waves in the public markets when added Eric Trump to their Strategic Advisory Board to collaborate on new ways to raise both equity and debt financings to accelerate their accumulation of Bitcoin
The intrigue:
- The race to purchase Bitcoin has also continued to ramp up on Wall Street, with large companies such as GameStop (NYSE: GME) just recently buying half a billion dollars of Bitcoin for the first time ever
