Metaplanet Inc. Expands Bitcoin Holdings

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

In a statement released on Monday, the Tokyo-listed firm announced that its total bitcoin holdings have expanded to 639.503 bitcoin, valued at approximately $40.6 million based on current market prices.

Metaplanet acquired the additional 108.786 bitcoins at an average price of 9.19 million yen ($61,880) per bitcoin, while the overall average price for its bitcoin holdings stands at 9.32 million yen ($62,789).

The firm has been actively buying bitcoin in recent months, having announced in May that it would adopt bitcoin as its strategic treasury reserve asset. Just last week, Metaplanet reported purchasing 107.913 bitcoin for 1 billion yen ($6.7 million).

Additionally, the company confirmed earning 23.972 BTC (+2.59%), roughly $1.52 million at current prices, by engaging in bitcoin options trading to boost its holdings.

As of the time of writing, bitcoin increased 2.84% over the last 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% to 1,017 yen on Monday, as reported by Google Finance. The stock is still trading in the afternoon session, while the Nikkei 225 index has risen 2.2% so far today.

In related news, BitcoinTreasuries data reveals that Michael Saylor-led MicroStrategy remains the largest corporate bitcoin holder, owning 252,220 BTC, followed by Marathon Digital with 26,842 BTC.