According to Foresight News, Metaplanet has released its financial data for the third quarter, revealing a significant increase in the fair value of its Bitcoin holdings. The current valuation of Metaplanet's Bitcoin assets has reached 4.27 billion yen, approximately 27.54 million USD. This valuation surpasses the company's market capitalization at the beginning of the year.
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Institutional demand, coupled with Bitcoin’s recent halving event that restricts new supply, has created a strong supply-demand dynamic. Bitwise CIO Matt Hougan suggests this combination could push Bitcoin toward six figures. He also anticipates that global monetary shifts, including China’s economic stimulus and recent interest rate cuts by the Fed and Bank of England, will further support Bitcoin’s upward trajectory.
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According to Binance Market Data, on Nov 10, 2024, 04:58 AM (UTC), Bitcoin (BTC) crossed the 79,000 USDT benchmark and is now trading at 79,081.71875 USDT, with a narrowed 3.57% increase in 24 hours.
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