Japanese investment and consulting firm Metaplanet has bought an extra 20.38 Bitcoin, valued at approximately $1.2 million (200 million yen), finalizing its 1 billion yen Bitcoin acquisition plan announced in June.
On June 24, Metaplanet revealed plans to issue bonds worth 1 billion yen (about $6.26 million) to fund Bitcoin purchases. The firm stated its strategy is to “hold Bitcoin for the long term.
After multiple acquisitions, the firm has finalized its plan to invest $6.26 million in BTC. On July 22, it revealed the purchase of 20.38 BTC at an average price of ¥9,813,061 ($62,574) per Bitcoin, totaling around $1.2 million.
Due to its plan to invest 1 billion yen in BTC, the company acquired 104.91 BTC at an average price of 9,531,162 yen (about $60,700) per BTC. This brings its total BTC holdings to 245.99 BTC, valued at $16.5 million at current market prices.
Metaplanet’s Stock Rises To 173 Yen On Bitcoin News
Following this purchase and Bitcoin’s price surge, Metaplanet’s stock rose 19.31% to 173 yen ($1.10) according to Google Finance data.
On April 8, Metaplanet revealed its plan to integrate BTC into its core treasury, initially investing $6.5 million in BTC. This decision marks a significant step in its aim to lead digital asset adoption in Japan.
Since this initial investment, Metaplanet’s share price has surged from $0.12 to $1.10, reflecting an 810% increase.
The firm is often likened to MicroStrategy for its strategy of long-term BTC holding. Jason Fang, founder of Sora Ventures, has referred to Metaplanet as “Asia’s first MicroStrategy,” noting that it provides the Japanese market with BTC exposure.
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