Key points:
- Metaplanet purchased an additional 57.1 bitcoin worth $3.3 million.
- This purchase increases Metaplanet’s total Bitcoin holdings to 303.095 BTC.
The Metaplanet Bitcoin Purchase saw the company acquire an additional 57.1 bitcoins for $3.3M, bringing its total to 303 BTC, funded by a $6.8M loan.
Metaplanet Bitcoin Purchase Expands Holdings
Japanese investment firm Metaplanet Inc. has announced a recent purchase of 57.1 bitcoin, worth about $3.3 million. The addition brings its total Bitcoin holdings to 303,095 BTC.
The Tokyo-listed company secured a $6.8 million loan last week, with 500 million yen specifically earmarked for additional bitcoin purchases, reflecting its continued bullish stance on the cryptocurrency.
Read More: Japan’s Metaplanet Bitcoin Investment Gets Boost With $70 Million Stock Rights Offering
Metaplanet’s Strategic Bitcoin Investment and Market Impact
Metaplanet shares have seen significant volatility, closing down 5.8% at 1,121 yen on Tuesday, as per Yahoo Finance data, despite a 600% surge earlier this year. The company’s bitcoin acquisition is part of a broader strategy to adopt bitcoin as a strategic treasury reserve asset to counter Japan’s economic pressures, including high government debt and negative, accurate interest rates.
CEO Simon Gerovich stressed their commitment to increasing their bitcoin holdings, reinforcing the company’s long-term investment approach.
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Source: Coincu
