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Japanese Firm Metaplanet Buys Additional 21.88 Bitcoins for ¥200 Million, Stock Surges 26%

Jul 16, 2024, 06:03 AM

Japanese public company Metaplanet has made a significant investment in Bitcoin, purchasing an additional 21.88 Bitcoins for ¥200 million (approximately $1.2 million). This acquisition brings Metaplanet's total Bitcoin holdings to 225.6 BTC, valued at ¥2.25 billion as of July 8th. The company's stock surged by 26% following the announcement, and it has increased over 5x since it announced its bitcoin strategy. Metaplanet, a prominent technology firm based in Tokyo, continues to buy Bitcoin as part of its strategic treasury reserve asset amid a rebound in Bitcoin prices toward $65,000.