Metaplanet Boosts Bitcoin Holdings with $6.7 Million Purchase

Metaplanet Inc., a Tokyo-based investment firm, has recently enhanced its bitcoin holdings by acquiring 108.786 BTC for approximately 1 billion yen (around $6.7 million).

This purchase brings the firm’s total bitcoin assets to 639.503 BTC, valued at about $40.6 million.

The firm disclosed that the latest bitcoins were bought at an average price of 9.19 million yen ($61,880) each, while the overall average cost of their holdings stands at 9.32 million yen ($62,789).

Metaplanet has actively pursued bitcoin investments since announcing its strategy in May to integrate bitcoin as a strategic reserve asset. Just a week ago, it had purchased 107.913 BTC for the same amount.

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Additionally, Metaplanet reported earning around 23.972 BTC, worth about $1.52 million, by trading bitcoin options, further increasing its bitcoin reserves.

At the time of writing, bitcoin has risen 2.84% and is trading at $63,594 after a recent dip below the $60,000 mark. Meanwhile, Metaplanet’s shares surged by 11% to reach 1,017 yen, coinciding with a 2.2% rise in the Nikkei 225 index.

Data from BitcoinTreasuries indicates that MicroStrategy, led by Michael Saylor, is the largest corporate bitcoin holder, owning 252,220 BTC, followed by Marathon Digital with 26,842 BTC.