Metaplanet Inc. Purchases Additional Bitcoin

Japanese investment firm Metaplanet Inc. has purchased an additional 108.786 bitcoin for 1 billion yen ($6.7 million), signaling optimism about the outlook for the world’s largest cryptocurrency.

In a statement released on Monday, the Tokyo-listed firm noted that this latest acquisition increases its total holdings to 639.503 bitcoin, valued at approximately $40.6 million based on current market prices.

Metaplanet acquired the new bitcoins at an average price of 9.19 million yen ($61,880) each, while its overall average price stands at 9.32 million yen ($62,789).

The firm has been actively buying bitcoin in recent months, announcing in May that it would adopt bitcoin as its strategic treasury reserve asset. Just last week, Metaplanet revealed it had bought an additional 107.913 bitcoin for an equivalent of one billion yen.

Additionally, the company reported earnings of 23.972 BTC, equating to about $1.52 million at current prices, from selling bitcoin options and collecting premiums to enhance its holdings.

Bitcoin rose by 2.84% in the past 24 hours, trading at $63,594 after falling near $60,000 last week, according to The Block’s price page.

Metaplanet's stock surged 11%, reaching 1,017 yen on Monday in Japan, as reported by Google Finance, with the Nikkei 225 index increasing by 2.2% that day.

In the broader context of corporate bitcoin holdings, data from BitcoinTreasuries shows that MicroStrategy, led by Michael Saylor, remains the largest corporate bitcoin holder with 252,220 BTC, followed by Marathon Digital with 26,842 BTC.