Japan’s Metaplanet buys additional $6.9 million in bitcoin, bringing total holdings to $32 million
Quick Take The Tokyo-listed firm continued its bitcoin holding strategy with an additional purchase of 107.9 bitcoin. The latest purchase brought its total bitcoin holdings to 506.7 bitcoin, worth about $32.2 million at the current price.
Japanese investment firm Metaplanet Inc. announced today that it purchased an additional 107.913 bitcoin worth about 1 billion yen ($6.9 million), as the company remains bullish on the world’s largest cryptocurrency.
The Tokyo-listed firm said that it made the latest purchase at an average price of 9.26 million yen ($64,168) per bitcoin. This brought its total bitcoin holdings to 506.745 bitcoin, worth about $32.2 million at current price.
Metaplanet acquired all its bitcoin for 4.75 billion yen at an average price of 9.37 million yen ($64,931) per bitcoin, according to the company’s latest disclosure.
Bitcoin BTC -1.03% dipped 1.27% over the past 24 hours to trade at around $63,661 at the time of writing, after reaching above $66,000 last week, according to The Block’s price page .
Metaplanet’s stock traded 4.24% higher so far on Tuesday in Japan, currently changing hands at around 1,033 yen, according to Google Finance. The stock is still trading in the afternoon session. The Nikkei 225 index climbed 1.91% so far today.
Metaplanet has been on a bitcoin buying spree in recent months after announcing in May that it had started to adopt bitcoin as its strategic treasury reserve asset.
Meanwhile, Michael Saylor-led MicroStrategy remains the largest corporate bitcoin holder, owning 252,220 BTC, according to BitcoinTreasuries data . Marathon Digital follows this record with 26,200 BTC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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