Hassan Maishera
TL;DR
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Metaplanet has continued its Bitcoin-purchasing spree, spending another $6.7 million buying more bitcoins.
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The Tokyo-listed company now holds over $40 million worth of bitcoins.
Metaplanet’s BTC Holdings Tops $40m
Japanese investment firm Metaplanet Inc. revealed on Monday, October 7th, that it had bought an additional 108.786 bitcoins for 1 billion yen ($6.7 million). This latest development comes as the Tokyo-listed company remains optimistic about Bitcoin’s long-term outlook.
In a statement earlier today, Metaplanet said that following this latest acquisition, it now holds 639.503 bitcoins, or about $40.6 million, based on current market prices.
The investment firm acquired the extra 108.786 bitcoins at an average price of 9.19 million yen ($61,880) per bitcoin and all its bitcoins at an average price of 9.32 million yen ($62,789).
The Tokyo-listed firm has been on a bitcoin buying spree in recent months after announcing earlier this year that it has included BTC as one of its strategic treasury reserve assets.
Metaplanet purchased 107.913 bitcoin for 1 billion yen ($6.7 million) last week. The company also reported earning 23.972 BTC, about $1.52 million at current prices, by selling bitcoin options and collecting premiums to boost its holdings.
Metaplanet has adopted MicroStrategy’s strategy, with the American company purchasing bitcoins regularly. The Michael Saylor-led MicroStrategy remains the largest corporate bitcoin holder, with over 252,220 bitcoins on its books.
Bitcoin had a positive weekend, adding nearly 3% to its value. At press time, BTC is trading at $63,580 and could surge past the $64k level in the short term if the positive momentum persists.
