Tokyo-listed investment firm Metaplanet Inc. has bolstered its bitcoin holdings with a fresh purchase of 108.7 BTC, valued at approximately $6.7 million (1 billion yen). This latest acquisition increases the firm’s total bitcoin assets to 639.5 BTC, worth around $40.6 million at current market prices.
The purchase reflects Metaplanet’s confidence in the long-term potential of bitcoin, as the company continues its strategy of adopting the cryptocurrency as a key treasury reserve asset. The company stated that it acquired the additional bitcoins at an average price of 9.19 million yen ($61,880) per bitcoin. Across all its holdings, the average price per bitcoin stands at 9.32 million yen ($62,789).
Bitcoin’s price saw a 2.84% uptick in the last 24 hours, reaching $63,594 after briefly dropping near $60,000 the previous week.
Metaplanet’s strategic bitcoin acquisitions have been ongoing since May, when the firm first announced its move to make bitcoin a cornerstone of its treasury management. This latest purchase follows a similar transaction just a week earlier, when the firm acquired 107.9 BTC for the same amount of 1 billion yen ($6.7 million).
The impact of Metaplanet’s bullish stance on bitcoin is also reflected in its stock performance, which surged 11% to 1,017 yen on Monday, according to Google Finance. The stock continues to trade in the afternoon session, while Japan’s broader Nikkei 225 index rose by 2.2% so far today.
In comparison, Metaplanet’s holdings remain modest next to bitcoin giants such as MicroStrategy, led by Michael Saylor, which holds a massive 252,220 BTC, and Marathon Digital, with 26,842 BTC, according to BitcoinTreasuries data.
Summary:
- Metaplanet purchases 108.7 BTC for $6.7M, bringing total holdings to 639.5 BTC.
- Total bitcoin holdings now valued at $40.6M.
- Average purchase price: $61,880 per bitcoin; overall average: $62,789.
- Metaplanet’s stock rose 11% amid the acquisition news.
- Bitcoin’s price climbed 2.84% in the past 24 hours, reaching $63,594.
