- With a valuation of ¥1.2 billion, Metaplanet has roughly 117.72 BTC in total Bitcoin holdings.
Additional Bitcoin has been bought by Japan-based Metaplanet, as per a disclosure statement posted on social media platform X on May 10.
The company disclosed that on April 23, it purchased 19.87 BTC at an average price of 10.06 million yen, or $64,664 per coin. The total cost of this acquisition was 200 million yen, or around $1.28 million.
With this buy, Metaplanet now has roughly 117.72 BTC in total, worth 1.2 billion JPY, or $7.7 million.
In a major change to its financial approach, Metaplanet committed to Bitcoin as a fundamental treasury asset on April 8th, devoting ¥1 billion, or around $6.56 million, to the leading digital currency.
Not long after, on April 24, the company bought 97.85 Bitcoin for 1 billion Japanese yen, fulfilling its promise. It stated that the acquisition was “about pioneering a future where finance meets innovation at its core, not just about embracing digital assets.”
It also named Dylan LeClair, an ardent supporter of Bitcoin, as its Director of Bitcoin Strategy. In this capacity, Dylan will oversee the company’s corporate Bitcoin strategy, which aims to increase Bitcoin holdings in line with its mission.
A publicly traded firm in Japan called Metaplanet provides services linked to technology and hospitality. It is the first firm listed for public trading on the Tokyo Stock Exchange to buy bitcoin.
The news of Metaplanet’s BTC acquisition caused its share price to rise by 3% to 30 yen.
With its Bitcoin acquisitions, Metaplanet has cemented its reputation as Asia’s “MicroStrategy.”
The largest Bitcoin holder in the public eye is MicroStrategy, with about 200,000 BTC worth of valuation. The software company has continuously added Bitcoin to its portfolio in an attempt to improve its financial position.
Michael Saylor, the chairman of the corporation, declared recently that the company’s flagship digital asset was the Best Alternative Investment.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
