Metaplanet Acquires 38.6 Bitcoin for $2.2M, Expanding Total Holdings To 398.8 BTC
Portfolio Pulse from Murtuza Merchant
Metaplanet, a Japanese company, has acquired 38.6 Bitcoin for $2.2 million, increasing its total Bitcoin holdings to 398.8 BTC. This move aligns with its strategy to allocate funds to Bitcoin, similar to U.S.-based MicroStrategy. Marathon Digital Holdings and Semler Scientific are also following similar strategies by raising funds to purchase Bitcoin.
September 10, 2024 | 3:21 pm
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Marathon Digital Holdings is raising $250 million through a convertible note offering to purchase more Bitcoin, following a strategy similar to Metaplanet and MicroStrategy.
Marathon Digital's decision to raise funds for Bitcoin acquisition is likely to positively impact its stock price in the short term as it aligns with a growing trend among companies to leverage Bitcoin's appreciation potential.
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RELEVANCE 80