Japanese Firm Acquires $3.4 Million in Bitcoin
Japanese investment firm Metaplanet has disclosed a recent acquisition of 57.273 Bitcoin, valued at approximately $3.4 million (500 million yen).
This purchase marks the completion of its goal to invest 1 billion yen in Bitcoin.
With this latest buy, Metaplanet’s total Bitcoin holdings have risen to 360.368 BTC, with an average acquisition cost of 9,573,556 yen per Bitcoin. The company has invested a total of 3.45 billion yen in its Bitcoin purchases to date.
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Earlier this month, Metaplanet announced plans to raise 10 billion yen, allocating 8.5 billion yen of this amount for additional Bitcoin acquisitions. Known for its substantial Bitcoin investment strategy, Metaplanet has been likened to Asia’s MicroStrategy.
The firm’s investment strategy began on April 22, 2024, starting with a 1 billion yen purchase that netted 97.8 BTC. This move followed Metaplanet’s exit from the hotel sector.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
