Metaplanet Buys ¥300M Bitcoin, Holdings Now 398.832 BTC Worth $25.5M, Stock Up 5%

Sep 10, 2024, 04:33 AM

Metaplanet Inc., a Japanese public company, has significantly increased its Bitcoin holdings by purchasing an additional ¥300 million worth of Bitcoin, equivalent to approximately 38.464 BTC at ¥7.8 million per coin on September 10th. This acquisition raises Metaplanet’s total Bitcoin holdings to around 398.832 BTC, valued at $25.5 million. The company's stock has risen by 5% following the purchase. Metaplanet's move, in collaboration with SBI Group, aims to enhance Bitcoin trading and management capabilities in Japan, signaling strong confidence in Bitcoin despite market volatility. The recent purchase price was nearly $53,000 per coin.