Asian firms ramp up Bitcoin buys: Metaplanet, HK Asia lead charge
Asian investment firms are increasing their Bitcoin acquisition strategies, prominently highlighted by Japan's Metaplanet and Hong Kong's HK Asia Holdings. Metaplanet announced on April 24 that it purchased an additional 145 Bitcoin for approximately $13.4 million, bringing its total Bitcoin holdings to 5,000 BTC. CEO Simon Gerovich reported that the firm has achieved 50% of its goal to accumulate 10,000 BTC by the end of 2025. The aggressive Bitcoin accumulation has led to a remarkable 3,000% surge in Metaplanet's stock since initiating its strategy. On the other hand, HK Asia Holdings intends to raise around $8.35 million by issuing new shares and convertible notes, speculated to be used to purchase more Bitcoin. The firm previously made headlines in February when it increased its holdings to nearly 9 BTC, doubling its share price in a day. Overall, these developments reflect a growing interest in Bitcoin accumulation among Asian institutional players, marking a trend of increasing corporate engagement in the cryptocurrency market.
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