Metaplanet Inc Adds More Bitcoin (BTC) to Its Bag, Now Holds 203 Units

Metaplanet Inc, the Japanese firm now recognized as MicroStrategy’s imitator has added fresh Bitcoin (BTC) to top up its bag.

Japanese firm Metaplanet Inc, now widely known as MicroStrategy’s imitator, has added more Bitcoin (BTC) to its stash. This marks the second time the publicly traded company is purchasing Bitcoin in the month of March.

Metaplanet now holds 203 Bitcoin in total

This accumulation can be considered a major discount purchase by the company, judging by its previous purchases.

Since the last purchase by the firm, the price of Bitcoin has decreased by 11.2%, presenting a favorable entry point for the company. Having a publicly traded firm purchase Bitcoin serves as a significant validation of the coin’s potential for growth. Metaplanet’s aggressive buying has been noted as it follows in the footsteps of Microplanet.

With its series of purchases, the company has now acquired a total of 203.734 Bitcoin units, which were purchased for a combined total of 2.05 billion yen, or $12,743,107.50.

The long-term game plan

Entities such as Metaplanet are committed to holding Bitcoin for the long term. While frequent market fluctuations, as we have seen this month, may concern many traders, MicroStrategy and Metaplanet view it as a new opportunity to purchase the coin.

The price of Bitcoin is currently changing hands at $56,139.52, showing a decrease of 2.22% over the past 24 hours. It remains to be seen whether or not MicroStrategy will capitalize on this dip soon; however, the Metaplanet move is certainly a point of discussion within the ecosystem.

This article was originally published on U.Today

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