Metaplanet Expands Bitcoin Holdings With $6.9M New Purchase

Key points:

• 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.

Metaplanet expands Bitcoin holdings with a $6.9M purchase, bringing its total to 506.7 BTC worth $32M, reinforcing its strategic move towards Bitcoin as a treasury asset.

Metaplanet Expands Bitcoin Holdings with Latest $6.9M Purchase

Metaplanet Inc. added 107.9 Bitcoin valued at $6.9M to increase its total to 506.7 BTC at a value of $32.2M. All this is in line with its treasury strategy. The Tokyo-listed investment firm bought the cryptocurrency at an average price of $64,168 per Bitcoin. This represents one more step in the company’s bullish positioning toward Bitcoin.

Metaplanet Inc. traded on the Tokyo Stock Exchange under the ticker 3350, has begun a strategic transformation. With Bitcoin as the principal treasury reserve asset, Metaplanet aims to utilize further cash to build its Bitcoin reserve using debt and equity financing. This strategic move is driven by certain unique properties of Bitcoin, such as perfect scarcity and an apolitical monetary policy.

Read more: Japan’s Metaplanet Bitcoin Purchase Surges to 303 BTC with $3.3M Buy

Tokyo-based Metaplanet Buys More Bitcoin, Total Holdings Reach $32M

It has continued to implement the accumulation of Bitcoin, adding 107.9 BTC to its holding and bringing it to a total of 506.7 BTC, part of its ongoing Bitcoin treasury strategy.

The company has bought Bitcoin worth 4.75 billion yen, about $32.2 million, since May this year. Even its stock rose by 4.24%, reflecting confidence in its crypto investments.