Metaplanet Inc. Expands Bitcoin Holdings

Japanese investment firm Metaplanet Inc. announced today the purchase of an additional 107.913 bitcoin worth about 1 billion yen ($6.9 million), reinforcing its bullish stance on the cryptocurrency market.

The Tokyo-listed firm disclosed that the latest purchase was made at an average price of 9.26 million yen ($64,168) per bitcoin, increasing its total bitcoin holdings to 506.745 bitcoin, valued at approximately $32.2 million at the current price.

To date, Metaplanet has acquired all its bitcoin for 4.75 billion yen, at an average of 9.37 million yen ($64,931) per bitcoin.

As for Bitcoin’s recent performance, it dipped 1.27% over the past 24 hours to trade around $63,661, after previously exceeding $66,000 last week, as reported by The Block.

On the stock market, Metaplanet’s shares rose 4.24% on Tuesday, currently trading at about 1,033 yen, while the Nikkei 225 index has climbed 1.91% today.

Metaplanet has been actively purchasing bitcoin in recent months, having announced in May that it was adopting bitcoin as its strategic treasury reserve asset.

In comparison, MicroStrategy, led by Michael Saylor, holds the largest corporate bitcoin stash with 252,220 BTC, while Marathon Digital follows with 26,200 BTC.