Asian firms ramp up Bitcoin buys: Metaplanet, HK Asia lead charge

Asian concern firms are stepping up their Bitcoin accumulation strategies, with Japan’s Metaplanet and Hong Kong’s HK Asia Holdings starring the way.

Tokyo-based Metaplanet disclosed connected April 24 that it acquired an further 145 Bitcoin (BTC) for 1.9 cardinal Japanese yen (around $13.4 million), boosting its full holdings to 5,000 BTC.

Metaplanet CEO Simon Gerovich confirmed the institution has reached 50% of its archetypal extremity of amassing 10,000 BTC by the extremity of 2025.

Metaplanet CEO Simon Gerovich announcing Bitcoin purchase. Source: Simon Gerovich

The steadfast has been assertive successful its Bitcoin treasury operations, using enslaved issuances and Bitcoin income strategies, specified arsenic selling cash-secured BTC enactment options, to concern its acquisitions.

Since initiating its Bitcoin strategy, Metaplanet’s banal has surged implicit 3,000%. The institution aims to clasp 21,000 BTC by the adjacent of 2026.

Related: Strike’s Mallers to caput steadfast seeking superior Bitcoin play to MSTR

HK Asia Holdings to rise $8.35 cardinal for BTC purchases

HK Asia Holdings Limited has besides announced plans to rise astir $65 cardinal Hong Kong dollars ($8.35 million) by issuing caller shares and convertible notes to perchance bargain much BTC.

According to an April 23 filing, the institution entered into stock subscription and convertible enactment (CN) subscription agreements aft trading hours.

The woody includes issuing 3,272,000 caller shares astatine a subscription terms of HK$4.01 per share, alongside convertible notes valued astatine HK$52.38 cardinal successful aggregate main amount. The recently issued shares volition correspond astir 0.82% of HK Asia Holdings’ full shares successful circulation.

While the filing does not notation that HK Asia Holdings intends to usage the funds to bargain Bitcoin, galore successful the crypto assemblage speculated that the superior rise is expected to money further Bitcoin acquisitions.

Source: Cointelegraph

The speculation follows HK Asia’s February determination to measurement into Bitcoin markets. After buying its archetypal BTC connected Feb. 16, the steadfast doubled its stock terms wrong a day.

By Feb. 20, HK Asia expanded its holdings by purchasing an further 7.88 BTC, bringing its full to astir 9 BTC astatine an mean terms of $97,021 per coin.

Shares successful HK Asia were up by astir 5.4% connected April 24 astatine the Hong Kong banal marketplace closing, according to Google Finance.

Related: Bitcoin speech buying is backmost arsenic ‘Spoofy the Whale’ lifts $90K asks

Saylor’s Strategy champions Bitcoin strategy

Michael Saylor’s Strategy, 1 of the world’s largest publically listed firm Bitcoin holders, has championed the Bitcoin accumulation strategy by consistently issuing convertible notes and at-the-market (ATM) equity offerings to money assertive Bitcoin purchases.

In February, Strategy announced plans to rise different $2 billion done 0% elder convertible notes to acquisition much Bitcoin.

As of April 20, Strategy held 538,200 BTC connected its equilibrium sheet. The fig includes the company’s most caller acquisition of 6,556 BTC for astir $555.8 million.

Magazine: Bitcoin ATH sooner than expected? XRP whitethorn driblet 40%, and more: Hodler’s Digest, March 23–29