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Metaplanet Buys ¥500M Bitcoin, Total Holdings 303 BTC Worth ¥2.95B

Aug 13, 2024, 08:53 AM

Japanese public company Metaplanet has made a significant acquisition of Bitcoin, purchasing an additional 57.1 BTC for ¥500 million, equivalent to approximately $3.3 million. This purchase brings Metaplanet's total Bitcoin holdings to approximately 303 BTC, valued at ¥2.95 billion, which represents about 14.5% of its market capitalization. The company secured a ¥1 billion loan to facilitate this acquisition. Metaplanet's stock price has surged 600% this year, peaking at 3,000 yen on July 24. The average purchase price for this latest acquisition was ¥8,756,107 per BTC, while the overall average price was ¥9,732,933 per BTC.