Japanese Company Metaplanet Boosts Bitcoin Holdings to $9.6 Million

1 month ago
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• Metaplanet bought 23.35 BTC at an average price of $68,099 per coin.
• The company now holds 141.0727 Bitcoins with an average price of $65.4K.
• The shares of the company rose more than 7% in the last 24 hours.

Metaplanet, a publicly traded company focused on Bitcoin and listed on the Tokyo Stock Exchange, has purchased an additional 23.35 BTC, bringing its total holdings to 141.0727 BTC, worth $9.62 million based on Bitcoin’s current price of $68,228.

As per a public disclosure, the additional 23.351 BTC were acquired at an average price of 10,706,180 yen ($68,099.33) per Bitcoin, totaling 250 million yen ($1,590,187).

The company’s total holdings of 141.0727 Bitcoins were acquired at an average price of 10,278,391 yen ($65,378) per Bitcoin, for a total of 1.45 billion yen ($9,223,087).

In May, Metaplanet designated Bitcoin as a reserve asset, “recognizing both the challenges and opportunities within the current global financial landscape.” The company stated:

Following the announcement of the Bitcoin purchase, Metaplanet’s share price on the Tokyo Stock Exchange increased significantly by 7.41% and is currently trading at 87 JPY.

The price of Metaplanet’s shares rose from 22 JPY on June 13 of last year to a high of 90 JPY in May, marking a substantial increase over one year.…Read more by Anisha Pandey

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