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.
[readmroe id=”138737″]
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.
The leading cryptocurrency remains close to the $62,500 level, showing only a marginal 1% surge over the past 24 hours.
Well-known crypto analyst Rekt Capital, which accurately predicted Bitcoin’s decline earlier this year, presented a potential bearish scenario for the cryptocurrency.
Bitcoin’s price bounced back over the weekend, nearing $64,000, after U.S. employment data exceeded expectations, boosting confidence in the economy.
A long-dormant Bitcoin wallet has just become active after nearly 11 years, drawing attention to its significant gains.