Metaplanet Acquires 156.78 BTC Now Holds 1,018, Eyes MSTR Throne!
2024-10-28

Bitcoin’s market dominance has been constantly growing, and the primary reason behind the surge is the increased acquisition of BTC by institutional giants and publicly traded companies. 
Following the fundraising from the recent stock sale, Metaplanet a Japan-based publicly traded company announced on October 28 2024 that it has acquired Bitcoin valued at 1 billion in Japanese currency. 
In an X post dated October 28, 2024, Metaplanet quotes “ It bought an additional 156.78 BTC.” The English version of recent purchases highlights that “From July 1, 2024, to September 30, 2024, the Company’s BTC Yield was 41.7%. From October 1, 2024, to October 28, 2024, the Company’s BTC Yield was 155.8%.” 
*Metaplanet purchases additional 156.78 
BTC Yield is a key performance indicator (KPI) that measures the percentage change in the ratio between Total Bitcoin Holdings and Fully Diluted Shares Outstanding over a specified time frame.
After the recent purchase of 156.78 BTC now Metaplanet holds 1,018.170 BTCs worth 9.622 billion yen. Per the same document it is noted that Back in August, the Japanese giant secured a 1 billion yen loan from MMXX Ventures Limited to boost its Bitcoin acquisition process.Metaplanet to Become Next MicroStrategy in BTC Holdings!
Market experts have a bullish overview over the Bitcoin strategy of Metaplanet arguing that the pace of buying BTCs by the company might help it to become the largest holder of Bitcoin among publicly traded companies. 
The company is solely compared with MicroStrategy as the Bitcoin buying model is closely similar, Metaplanet gathered funds by selling shares to buy Bitcoin and MSTR also sold shares to buy Bitcoin. 
However, the BTC strategy of MSTR is largely criticized by finance experts, especially by Peter Schiff, who argues that MSTR stock is overvalued and will cause a real bloodbath if it crashes. 
On July 23, 2024, it was reported that Metaplanet partnered with Hoseki, a global leader in Bitcoin verification solutions, to allow users to verify the company’s Bitcoin holdings.
It seems like Metaplanet is looking to protect itself from economic uncertainties and inflation risks by building a reserve of Bitcoin. Leaders at the company are confident that this approach will offer strong returns over the long term.Metaplanet(TYO: 3350)Stock Price Updates 
When writing TYO: 3350 was trading at 1,150 JPY adding 7.18% in the past 24 hours, the prices are at a 9.23% gain in the monthly time frame. Source: TradingView 
In terms of continued bullishness in Metaplanet stock, the nearest visible resistance is 1,235 JPY, followed by 1,327 JPY. The nearest identified support levels are 939 JPY and 847 JPY. 
It is worth noting that TYO:3350 has grown 538.89 percent YTD (year to date) and roughly 506 percent in the 52-week time frame. 
Until publishing Bitcoin was trading at $67,859 with an intraday growth of 1.23 percent and adding 3.24 percent to its price in the past 30 days. 
Between October 21 and October 25, Bitcoin spot ETFs experienced a net inflow of $998 million. BlackRock’s ETF (IBIT) saw a significant net inflow of $1.15 billion during this period, while ARK 21Shares Bitcoin ETF (ARKB) recorded a net outflow of $206 million. 