Japanese investment powerhouse Metaplanet Inc. has once again demonstrated its bullish stance on Bitcoin, purchasing $61 million worth of the leading cryptocurrency.
On Monday, Metaplanet announced the acquisition of an additional 619.7 BTC for 9.5 billion yen ($60.6 million), equating to an average purchase price of 15.3 million yen ($97,786) per Bitcoin. This recent acquisition brings the company’s total holdings to 1,761.98 BTC, valued at approximately $167.1 million.
The purchase follows a successful fundraising initiative last week, where Metaplanet secured 9.5 billion yen through a two-tranche bond issuance explicitly aimed at accelerating its Bitcoin accumulation.
Since adopting Bitcoin as a strategic treasury reserve in May, the Tokyo-listed firm has steadily increased its holdings. Despite this aggressive acquisition strategy, Metaplanet’s stock dipped slightly, closing at 3,540 yen on Monday, a 0.98% decrease. Nevertheless, the company has seen an extraordinary 1,982% year-to-date increase, according to Yahoo Finance.
At the time of writing, Bitcoin experienced a minor decline of 1%, trading at $95,221, while Ethereum fell 1.2% to $3,292. The Block’s GMCI 30 index, tracking the top 30 cryptocurrencies, slipped 0.93% over the last 24 hours.
MicroStrategy retains its position as the largest corporate Bitcoin holder, with a staggering 439,000 BTC.
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