Tokyo-listed Metaplanet Buys ¥300 Million More Bitcoin, Total Holdings at 398.832 BTC, Stock Rises 4.42%

Sep 10, 2024, 05:19 AM

Japanese public company Metaplanet, a Tokyo-listed firm, has made a significant investment in Bitcoin, purchasing an additional ¥300 million worth of the cryptocurrency. This acquisition amounts to approximately 38.464 BTC, bringing Metaplanet's total Bitcoin holdings to around 398.832 BTC, valued at about $25.5 million. The purchase price was nearly ¥7.8 million per coin. Following the announcement, Metaplanet's stock rose by 4.42%. This move signals the company's confidence in Bitcoin despite market volatility and aligns with its strategy to expand its crypto capabilities in collaboration with SBI Group.