- Metaplanet Expands BTC Holdings, Secures 108.78 Additional Bitcoin Amid Bullish Market Sentiment.
- US Bitcoin ETFs now hold 4.6% of the supply, almost approaching Satoshi’s entire holdings.
Bitcoins [BTC] The recent price activity has turned heads as it fluctuated from nearly $66,000 in late September and fell to $60,000 on October 1 before bouncing back.
Trading at $63,480 at the time of writing, up 2.3% in the last 24 hours according to CoinMarketCapthe cryptocurrency is showing strong bullish signs.
Metaplanets new Bitcoin accumulation
Building on this momentum, Japanese investment firm Metaplanet announced the acquisition of an additional 108.78 BTC for $6.7 million (1 billion yen), bringing its total holdings to 639.5 BTC, worth approximately $40 million.
Source: Metaplanet Inc./X
Noting about the same an X user noted,
“Nice investment choice!”
Additional, Bitcoin Treasuries data revealed that Metaplanet started its BTC acquisitions on April 23.
Therefore, the recent October 7 purchase marks the thirteenth purchase along with the recent one accumulation of 107.9 BTC, valued at 1 billion yen ($6.9 million).
Metaplanet’s strategy explained
These recent purchases reflect Metaplanet’s consistent strategy to grow its BTC holdings amid renewed optimism about the crypto market’s prospects for the final quarter of the year.
That said, Metaplanet has attracted attention for its proactive Bitcoin purchasing approach, drawing comparisons to MicroStrategy and earning the title “Asia’s MicroStrategy” for its institutional-level involvement with BTC.
Thus, by acquiring BTC, Metaplanet is trying to navigate Japan’s challenging economic landscape, which is characterized by negative interest rates and extensive quantitative easing.
Bitcoin ETFs Set to Surpass Satoshi Nakamoto’s Bitcoin Holdings?
Needless to say, the introduction of Bitcoin ETFs has marked a turning point, shifting mainstream sentiment – especially within Wall Street – from seeing BTC as a risk to seeing it as a strategic opportunity.
Subsequently, institutional interest in BTC has skyrocketed, with US Spot Bitcoin ETFs now holding 4.6% of BTC’s total supply, amounting to $58 billion and approaching the holdings of Bitcoin’s largest owner, Satoshi Nakamoto.
This was further limited by data from SoSoValue It showed that BTC ETFs have amassed a total of $57.73 billion in assets, with BlackRock leading the way, managing $22.91 billion in its Bitcoin ETF alone.
Making the same comment on this, Eric BalchunasBloomberg’s Senior ETF Analyst noted in a recent tweet:
“US Bitcoin ETFs had a good day yesterday, pushing YTD flows to a new high-water mark of $17.8 billion. They are now 92% of the way to owning 1 million bitcoin and 83% of overtaking Satoshi as the top holder. Tap tap..”
Therefore, with the increasing adoption of BTC, it will be intriguing to observe whether Nakamoto will maintain his status as the largest Bitcoin holder or whether things will take a turn.