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Japanese Investment Firm Metaplanet Continues to Buy Bitcoin: Here is the Latest Amount of Bitcoin Purchased!
Japanese investment firm Metaplanet has made another significant investment in Bitcoin by purchasing approximately 619.7 BTC for about 61 million dollars.
Metaplanet Expands Bitcoin Assets with $61 Million Acquisition
This move underscores the company's bullish stance towards the world's leading cryptocurrency.
In today's announcement, Metaplanet revealed that it purchased 619.7 BTC at an average price of 15.3 million yen ($97,786) per bitcoin, totaling 9.5 billion yen ($60.6 million).
With this latest purchase, the company's total Bitcoin holdings increase to 1,761.98 BTC, valued at approximately 167.1 million dollars at current market prices.
The necessary funds for this purchase were provided last week through the issuance of two tranches of bonds totaling 9.5 billion yen. Metaplanet described this move as part of the strategy to "accelerate Bitcoin purchases".
Strategic Bitcoin Reserve
Metaplanet started embracing Bitcoin as a strategic treasury reserve asset in May and has since been in a frenzy of aggressive buying. The firm's commitment is in line with a broader institutional trend of embracing Bitcoin as a store of value and hedge against inflation.
Stock Performance
Metaplanet shares traded on the Tokyo Stock Exchange closed at 3,540 yen on Monday, down 0.98%. However, according to Yahoo Finance, the company's stock price has increased by 1,982% since the beginning of the year, reflecting investor confidence in its Bitcoin-centric strategy.