Metaplanet acquired 20.38 Bitcoin tokens and is now leveraging them through a strategic partnership. Metaplanet has announced that it will join forces with Hoseki to verify its BTC holdings. The ultimate aim is to enhance transparency and instill a sense of confidence among investors. This stems from the proliferation of Bitcoin adoption, with every player claiming to hold a certain amount of the said digital asset.
The strategic partnership with Hoseki grants Metaplanet access to its product, Hoseki Verified. The alliance resonates with Bitcoin’s ethos of Don’t Trust, Verify. Hoseki has made a name for itself as one of the largest firms in terms of verifying BTC holdings. This marks the beginning of a series of several initiatives that Metaplanet will undertake in the times to come. Although the specifics of these initiatives remain undisclosed, Metaplanet is certainly willing to collaborate with several market players to promote ecosystem expansion.
Verifying Bitcoin holdings helps investors and corporations check a firm’s integrity and transparency. This, in turn, helps cement trust in the overall ecosystem of digital assets.
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Metaplanet chose Hoseki Verified because it provides real-time updates on Bitcoin holdings for ETF issuers and financial institutions.
The development comes after Metaplanet announced its acquisition of 20.38 BTC. The announcement dates back to July 22, 2024, highlighting that the total holding has reached 2.45 billion yen for 245.992 BTC. Metaplanet acquired 20.38 BTC for 9,813,061 yen per Bitcoin token, for an aggregated amount of 200 million yen at the time of acquisition. For reference, a single BTC is exchanging hands at $66,459.01 at the time of articulating this piece. This follows a 1.80% decline in the last 24 hours.
Members of the Bitcoin ecosystem and supporters of Metaplanet welcomed this move, saying that it truly understood Bitcoin’s potential. Joining hands with Hoseki, therefore, builds on this development.
Bitcoin is poised to go as high as $84,000 in the next 30 days, followed by a new ATH of $100,000 by the end of this year. Considering the entire meme coin segment is down and several digital assets have been hit in a single day, BTC is able to sustain the ongoing momentum, which is better than anticipated. Also, the spotlight is likely to shift to ETH after the issuers of Spot Ether ETF take the product live in the trading market. That will trigger a contest between Spot Bitcoin ETF and Spot Ether ETF, with the latter expected to overperform the former in the first 18 months—or at least reach the same level.
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Metaplanet and Hoskei’s entering into a strategic partnership has been identified as a new industry trend, and Metaplanet acknowledged This in the official announcement.
