Bitcoin News – Japanese firm Metaplanet has made waves in the crypto space, acquiring 518 Bitcoin (BTC) for $61.4 million, bringing its total holdings to 18,113 BTC. The company aims to amass 210,000 BTC by 2027, positioning itself as a major corporate holder. This move reflects growing institutional confidence in Bitcoin as a reserve asset, especially as its price hovers at $119,641.77, or ₹10,437,243.12 in India.
Metaplanet’s strategy aligns with a global trend. Companies like MicroStrategy, holding 129,699 BTC, and Marathon Digital (10,054 BTC) are doubling down on Bitcoin treasuries. In India, where crypto adoption is rising, this signals potential for local firms to follow suit.
However, India’s 30% crypto tax and 1% TDS could complicate corporate adoption, making it essential for tracking market trends and tax implications.
The purchase comes amid a bullish market, with Bitcoin up 6.25% in the past week. Institutional inflow of $57.4 billion into BlackRock’s Bitcoin ETF suggest that this corporate buying spree could reduce Bitcoin’s available supply, driving prices higher as the 21-million BTC cap nears. Indian investors can use btcprice.in’s news updates to stay informed on such developments.
Metaplanet’s ambitious goal faces challenges, including market volatility and regulatory hurdles. In India, clarity on crypto laws remains pending, impacting investor sentiment.
Still, Bitcoin’s deflationary nature makes it attractive as a hedge against inflation, especially for Indian businesses navigating rupee fluctuations. Visit btcprice.in for the latest on corporate Bitcoin adoption and its impact on prices.
Will Metaplanet’s bet pay off? Follow btcprice.in for real-time news and price alerts to stay ahead in India’s crypto landscape.
