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Metaplanet Inc. Expands Bitcoin Holdings with ¥500 Million ($3.4M) Purchase

Aug 20, 2024, 06:29 AM

Japanese investment firm Metaplanet Inc., listed in Tokyo, has expanded its Bitcoin holdings by purchasing an additional 57.273 Bitcoins for approximately ¥500 million, equivalent to $3.4 million, at an average price of ¥8,730,117 per Bitcoin. This acquisition is part of a ¥1 billion ($6.8 million) loan-backed plan. As of August 20, Metaplanet's total Bitcoin holdings amount to 360.368 Bitcoins, acquired at an average price of ¥9,573,556 per Bitcoin. The firm cites economic pressures in Japan as a key driver for adopting Bitcoin as a treasury reserve asset.