Two Giant Companies Announced: They Prefer That Cryptocurrency!

Japanese-based Metaplanet has significantly strengthened its Bitcoin holdings by purchasing more Bitcoin (BTC). This strategic move reflects the company’s increasing confidence in viewing Bitcoin as a valued asset and the general trend of greater institutional investment in the cryptocurrency market. In other news, a leading Canadian financial technology (fintech) company announced that it has adopted Bitcoin (BTC) as its primary treasury reserve asset. This strategic move includes the first acquisition of 110 BTC, which allows the company to integrate classical capital markets with decentralized finance (DeFi).

Metaplanet bought from Bitcoin, the leading cryptocurrency

Metaplanet shares, called “Asia’s MicroStrategy”, attracted attention. Because it rose by double-digit rates on Tuesday after the company announced that it had purchased another million dollars of Bitcoin (BTC). In a resounding statement, the firm announced that it plans to allocate $1.59 million to purchase Bitcoin. Metaplanet’s Bitcoin investment announcement attracted heavy attention and scrutiny from investors. Thus, it caused a significant increase in stocks. The company’s decision to purchase 23,351 Bitcoins, known for its smart financial management, was critical. Because it is considered a significant deviation from classical investment areas.

As detailed in its June 11, 2024 filing, Metaplanet made a hefty acquisition. Because it increased its total Bitcoin holdings to 141.07 Bitcoins ($9.6 million). Thus, he spent $65,365 (10,278,391 Japanese Yen) per Bitcoin as the average purchase price. He purchased 23,351 Bitcoin (BTC) with this value. This breakthrough As we reported, it came after Metaplanet Inc. announced that it continued its upward trend by adding to its Bitcoin (BTC) holdings in late May. The company notified the board of directors of its decision to purchase Bitcoin at a value of 250 million yen, in line with its latest strategy. Thus, it further strengthened its position in the cryptocurrency market.

DeFi Technologies chooses Bitcoin as reserve asset

On the other hand, DeFi Technologies, which accepts Bitcoin as a valuable asset class with a market value exceeding $ 1 trillion, sees it as an effective inflation defense. Bitcoin’s scarcity, limited nature, digital durability and architectural stability attract attention. Because it makes it a more attractive option than classical assets. DeFi Technologies’ latest initiative attracted attention from important names in the cryptocurrency industry. Anthon Pompliano, founder of Morgan Creek Digital Assets and a well-known Bitcoin advocate, made the statement. He shared his thoughts about the company’s move on Twitter as follows:

Bitcoin is slowly making its way into public company treasuries around the world. We remain a shareholder of DeFi Technologies (DEFTF) and believe the business remains undervalued.

DeFi Technologies’ decision coincides with major monetary policy changes. Recently, the Bank of Canada (BoC) took action. Because, in order to ease the burden on indebted consumers, the main policy decided to reduce the interest rate from 5% to 4.75%. Low interest rates make borrowing cheaper for both consumers and businesses. This change could potentially lead to increased spending and investment.

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