Tokyo-based investment firm Metaplanet Inc. announced on Monday it has purchased an additional 619.7 Bitcoin, spending approximately $58.9 million at current market rates.
Tokyo-based investment firm Metaplanet Inc. announced on Monday it has purchased an additional 619.7 Bitcoin, spending approximately $58.9 million at current market rates.
This acquisition brings the firm's total Bitcoin holdings to 1,761.98 BTC, valued at around $167.1 million.
The latest purchase follows Metaplanet's recent bond issuance, which raised nearly 9.5 billion yen ($60.6 million). The company indicated that the funds would be used to expedite further Bitcoin acquisitions. The average purchase price for the latest batch of Bitcoin was reported at 15.3 million yen ($97,786) per coin.
Metaplanet has been increasing its Bitcoin investments since it first adopted the cryptocurrency as a strategic treasury reserve asset in May.
This ongoing buying trend aligns with the firm’s bullish outlook on Bitcoin, which remains the largest cryptocurrency by market capitalization.
Despite these acquisitions, Metaplanet's stock saw a decline of 0.98% on Monday, closing at 3,540 yen ($22.52). Year-to-date, however, the company’s stock has surged by approximately 1,982%, according to data from Yahoo Finance.
In the broader market, Bitcoin experienced a 1% drop in value over the past 24 hours, trading at $95,221. Meanwhile, Ether also saw a decline, losing 1.2% to settle at $3,292. The Block’s GMCI 30 Index, which tracks the performance of the top 30 crypto, fell by 0.93% during the same timeframe.
As of now, MicroStrategy retains the title of the largest public corporate holder of Bitcoin, with a reported 439,000 BTC in its possession, according to information from BitcoinTreasuries.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
