MetaPlanet, a prominent player in the cryptocurrency world, has reached new heights by increasing its Bitcoin holdings to 15,555 BTC. This milestone comes after a significant purchase of Bitcoin worth $238.7 million.
MetaPlanet Reaches New Heights
Following a recent purchase of $238.7 million, MetaPlanet now holds 15,555 BTC, worth approximately $1.7 billion. These holdings exceed Bhutan's state reserves by $400 million. As reported by Arkham, MetaPlanet is categorized as a Bitcoin whale and does not hold other tokens.
Bhutan's Crypto Investment Strategy
According to reports, Bhutan's investment entity, Druk Holdings, possesses 11,924 BTC, valued at $1.3 billion. Additionally, the government holds 656 ETH worth around $1.72 million and small positions in tokens like KIBSHI and BOBO. This underscores Bhutan's strategic approach to accumulating crypto assets.
Market Impact and Future Outlook
Arkham data shows that MetaPlanet has displayed an aggressive accumulation strategy, increasing its assets by $238.7 million in a single week. This occurs amid rising interest in assets during periods of high market volatility for Bitcoin. The combined assets of MetaPlanet and Bhutan total 27,479 BTC, exceeding $3 billion at current market value.
Thus, MetaPlanet's growth and Bhutan's strategy confirm a sustained interest in Bitcoin from both institutional and sovereign players amid the positive market dynamics.
