Japanese Investment Firm Buys Additional Bitcoin

Japanese investment firm Metaplanet Inc. has invested nearly $61 million in bitcoin, maintaining its bullish stance on the cryptocurrency.

On Monday, Metaplanet announced it purchased an additional 619.7 BTC for 9.5 billion yen ($60.6 million), equating to an average price of 15.3 million yen ($97,786) per bitcoin. Following this transaction, the firm's total bitcoin holdings reached 1,761.98 BTC, valued at approximately $167.1 million.

This strategic purchase follows Metaplanet's bond issuance last week, which raised 9.5 billion yen ($60.6 million) aimed at accelerating their bitcoin acquisitions. The company started adopting Bitcoin as a treasury reserve asset in May and has been consistently acquiring more ever since.

As of Monday, Metaplanet's stock fell by 0.98% to 3,540 yen, despite achieving an impressive 1,982% increase year-to-date, as reported by Yahoo Finance.

Bitcoin, meanwhile, has seen a 1% decline over the past 24 hours, trading at $95,221. Ether also dipped 1.2%, at $3,292. The Block's GMCI 30 index, which tracks the top 30 cryptocurrencies, decreased by 0.93% in the same timeframe.

Currently, MicroStrategy remains the largest public corporate holder of bitcoin, possessing 439,000 BTC, according to BitcoinTreasuries.