Metaplanet boosts BTC holdings as Bitcoin ETFs near Satoshi Nakamoto's level, marking institutional interest growth.
recent price activity has drawn attention as it fluctuated from nearly $66,000 at the end of September, dipping to $60,000 on 1st October, before bouncing back.Riding on this momentum, Japanese investment firm Metaplanet announced its acquisition of an additional 108.78 BTC for $6.7 million , bringing its total holdings to 639.5 BTC, valued at approximately $40 million.
That being said, Metaplanet has gained attention for its proactive Bitcoin acquisition approach, drawing comparisons to MicroStrategy and earning the title –Thus, by adopting BTC, Metaplanet seeks to navigate Japan’s challenging economic landscape marked by negative interest rates and extensive quantitative easing.
Subsequently, institutional interest in BTC has surged, with U.S. Spot Bitcoin ETFs now holding 4.6% of BTC’s total supply, equating to $58 billion and approaching the holdings of Bitcoin’s largest owner,which showed that BTC ETFs have amassed $57.73 billion in total assets, with BlackRock leading the charge, managing $22.91 billion in its Bitcoin ETF alone.
“U.S. bitcoin ETFs had good day yesterday pushing YTD flows to new high water mark of $17.8b. They’re now 92% of the way to owning 1million bitcoin and 83% of way to passing Satoshi as top holder. Tick tock..” Hence, with the increasing adoption of BTC, it will be intriguing to observe whether Nakamoto will maintain his status as the top Bitcoin holder or if things take a u-turn.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life.
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