Japan’s Metaplanet Inc. has made a significant investment by purchasing an additional 108.786 bitcoin for 1 billion yen (approximately $6.7 million). This purchase reflects the firm’s optimism regarding the future of the world’s largest cryptocurrency.
With this recent acquisition, Metaplanet’s total bitcoin holdings now stand at 639.503 bitcoin, which amounts to about $40.6 million based on current market prices.
The company has been actively increasing its bitcoin investments in recent months, following its announcement in May that it would adopt bitcoin as a strategic treasury reserve asset. Just last week, Metaplanet acquired 107.913 bitcoin for another 1 billion yen ($6.7 million).
In addition to its purchases, Metaplanet reported earning 23.972 BTC (approximately $1.52 million) through the sale of bitcoin options and premiums.
As of the latest update, bitcoin has risen 2.84% in the past 24 hours, trading at $63,594, recovering from a dip below $60,000 last week.
Metaplanet’s stock surged by 11% to 1,017 yen in Japan on Monday, with the Nikkei 225 index also showing a positive trend, climbing 2.2%.
According to BitcoinTreasuries data, MicroStrategy, led by Michael Saylor, remains the largest corporate bitcoin holder with 252,220 BTC, followed by Marathon Digital with 26,842 BTC.
Disclaimer: The Block is an independent media outlet delivering news and data. This article is for informational purposes only and not intended as legal or financial advice.
