Metaplanet, a renowned Japanese investment entity focused on bitcoin accumulation, has amplified its bitcoin portfolio with an additional purchase of $13.3 million worth of BTC. This move comes just a day after the firm executed its biggest bitcoin acquisition till date.
The investment firm, listed in Tokyo, revealed on Wednesday that it has procured an extra 160 BTC for roughly $13.3 million, with the average cost per bitcoin being $83,264. This acquisition has now raised their total bitcoin holdings to 4,206 BTC, secured for roughly $359.8 million, as reported by Metaplanet’s CEO Simon Gerovich. As per the current market rates, the firm’s 4,206 BTC is estimated to be worth around $356.2 million.
Following the firm’s announcement of the purchase of 696 BTC on Tuesday, this latest acquisition comes into play. Since the official declaration of its bitcoin strategy in April 2024, Metaplanet has been consistently stocking up on the world’s leading cryptocurrency. As it stands, with a total of 4,206 BTC, it holds the ninth-largest position globally among publicly traded corporations that own bitcoin, and it is the largest in Asia, as per data from BitcoinTreasuries.net. The firm has expressed its aim to hold 10,000 BTC by the end of 2025 and increase its holdings to 21,000 BTC by 2026.
During Wednesday’s morning session in Japan, Metaplanet’s stock experienced a slight dip of 0.98%, according to Google Finance data, while the Nikkei 225 index remained steady. Bitcoin witnessed a rise of 1.6% over the past 24 hours, trading at $84,526 at the time of reporting, according to The Block’s price page. The Block’s GMCI 30 index, which tracks the performance of the top 30 cryptocurrencies, also saw an increment of 0.7%.
Disclaimer: The Block is a self-governing media outlet offering news, research, and data. Foresight Ventures, a majority investor of The Block since November 2023, also invests in other crypto companies. The Block operates independently, aiming to provide objective, impactful, and timely crypto industry information. This article is intended for informational purposes only and does not serve as legal, tax, investment, financial, or other advice.
