Metaplanet Purchases an Additional $6.7M in BTC
Metaplanet Inc., a Japanese investment firm, has acquired 108.786 more Bitcoin with a value of 1 billion yen ($6.7 million), as it maintains a positive outlook on the world’s largest cryptocurrency.
This increases the company’s total Bitcoin holdings to 639.503, equivalent to approximately $40.6 million based on current market prices.
The purchase was made at an average price of 9.19 million yen ($61,880) per Bitcoin, and all of Metaplanet’s Bitcoin were acquired with an average price of 9.32 million yen ($62,789).
Metaplanet has been actively buying Bitcoins in recent months, following its announcement in May that it will be adopting bitcoin as its strategic treasury reserve asset.
The company’s latest purchase of 107.913 Bitcoins for 1 billion yen was also announced last week. Additionally, Metaplanet reported earning 23.972 Bitcoins, equivalent to about $1.52 million, through the sale of Bitcoin options and collecting premiums to increase its holdings.
