Two Major Companies Announced: They Prefer That Cryptocurrency!

Japanese-based Metaplanet significantly strengthened its Bitcoin (BTC) holdings by purchasing more Bitcoin. This strategic move reflects the company's increasing confidence in Bitcoin as a valuable asset and the general trend of more institutional investment in the cryptocurrency market. On the other hand, 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 company's first purchase of 110 BTC, enabling it to integrate traditional capital markets with decentralized finance (DeFi).

Metaplanet buys Bitcoin, the leading cryptocurrency

Shares of Metaplanet, dubbed "Asia's MicroStrategy," surged by double digits on Tuesday after the company announced the purchase of an additional one million dollars' worth of Bitcoin (BTC). In a statement that reverberated in financial circles, the firm disclosed its plan to allocate a budget of 1.59 million dollars to purchase Bitcoin. Metaplanet's announcement of its Bitcoin investment has attracted intense interest and scrutiny from investors, leading to a significant increase in stock shares. The decision by the company, known for its smart financial management, to purchase 23,351 Bitcoin is considered a significant deviation from traditional investment areas.

As detailed in its notification dated June 11, 2024, Metaplanet increased its total Bitcoin holdings to 141.07 Bitcoins ($9.6 million) by purchasing 23,351 Bitcoins (BTC) at an average purchase price of $65,365 per Bitcoin (10,278,391 Japanese Yen). This move came after Metaplanet Inc. announced in late May that it was adding to its Bitcoin (BTC) holdings, as reported by Kriptokoin.com. In line with its recent strategy, the company further strengthened its position in the cryptocurrency market by informing its board of directors of the decision to purchase Bitcoin worth 250 million yen.

DeFi Technologies has chosen Bitcoin as a reserve asset.

On the other hand, DeFi Technologies, which accepts Bitcoin as an important asset class with a market value exceeding 1 trillion dollars, sees it as an effective inflation hedge. Bitcoin's scarcity, limited nature, digital resilience, and architectural stability make it a more attractive option than traditional assets. DeFi Technologies' latest venture has attracted interest from prominent figures in the cryptocurrency sector. Anthon Pompliano, the founder and partner of investment management firm Morgan Creek Digital Assets and a well-known Bitcoin advocate, shared his thoughts on the company's move on Twitter as follows:

Bitcoin is slowly entering the world's public company treasuries. We continue to be a shareholder of DeFi Technologies (DEFTF) and believe that the business is still undervalued.

"DeFi Technologies Bitcoin'i ana hazine rezerv varlığı olarak benimsemiş olup, bu stratejiyi başlatmak için 110 Bitcoin satın almıştır. Bu, Bitcoin'in para değerinin düşmesine karşı koruma ve Şirket'in hazine rezervini genişletme potansiyeline olan güveni yansıtmaktadır."

Bitcoin is slowly seeping into...

• Pomp 🌪 (@APompliano) June 10, 2024

DeFi Technologies' decision comes at the same time as significant monetary policy changes. Recently, the Bank of Canada (BoC) decided to lower the main policy interest rate from 5% to 4.75% in order to alleviate the burden on indebted consumers. 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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