Metaplanet, a Japanese investment firm known as Asia's MicroStrategy, has seen a surge in its Bitcoin holdings by $28 million this year, resulting in a doubling of its market valuation.
Metaplanet's Bitcoin stash has increased from 492.82 BTC to 1,018.17 BTC by mid-November, solidifying its position as one of Asia’s largest corporate Bitcoin holders.
Despite the increase in Bitcoin holdings, Metaplanet reported a loss of $2.1 million for the first nine months of this year, but it raised over $26.7 million through bond offerings and stock issuances.
Bitcoin's price has surged by over 138% this year, hitting a record high of $89,000, and it is currently trading at $87,714.