en.bitcoinsistemi.com
Japanese investment firm Metaplanet has further increased its Bitcoin holdings by purchasing an additional 108 $BTC for 1 billion yen ($6.7 million).
Japanese Metaplanet Increases Bitcoin Assets by $6.7 Million, Total Assets Above $40 Million
With this latest acquisition, Metaplanet’s total Bitcoin holdings have reached 639 $BTC, which is worth around $40.6 million at current market prices.
The Tokyo-listed company announced today that the average price of its latest bitcoin purchase was 9.19 million yen ($61,880) per $BTC. Across all bitcoin purchases, Metaplanet purchased its assets at an average price of 9.32 million yen ($62,789) per Bitcoin.
Metaplanet has been steadily accumulating Bitcoin over the past few months, having adopted the cryptocurrency as a strategic treasury reserve asset earlier this year. In May, the company went on a Bitcoin buying spree, and its latest purchase comes just a week after it purchased another 107 $BTC for 1 billion yen.
In addition to Bitcoin purchases, Metaplanet reported last week that it earned 24 $BTC, equivalent to $1.52 million at current prices, by selling Bitcoin options and collecting premiums to grow its cryptocurrency reserves.
Bitcoin has been on a strong performance, rising 2.84% to $63,970 in the past 24 hours after briefly approaching $60,000 last week.
Metaplanet's shares have also surged, rising 11% to 1,017 yen on Monday, while Japan's Nikkei 225 index rose 2.2% on the same day.
According to BitcoinTreasuries data, MicroStrategy, led by Michael Saylor, remains the largest institutional Bitcoin holder with 252,220 $BTC, followed by Marathon Digital with 26,842 $BTC.
Metaplanet’s continued investment in Bitcoin underscores its confidence in the long-term potential of the world’s largest cryptocurrency as both a reserve asset and a source of earnings through financial instruments such as options.
*This is not investment advice.