Japanese investment company Metaplanet announced a significant purchase of bitcoin.

Japanese investment company Metaplanet has announced the completion of a significant bitcoin purchase.

Japanese investment company Metaplanet Inc., listed on the Tokyo Stock Exchange, has just announced the completion of a significant purchase of bitcoin. As part of this acquisition, it has acquired 107,913 bitcoins with a total value of approximately $6.9 million, underscoring its bullish stance on this major cryptocurrency.

Metaplanet made this purchase at an average price of 9.26 million yen (US$64,168) per bitcoin. As a result of this transaction, the company now holds a total of 506 bitcoins with a current value of approximately $32.2 million. The company's total investment in bitcoin from the company amounts to 4.75 billion yen, which corresponds to an average price of 9.37 million yen (US$64,931) per bitcoin.

At the time of the announcement, the price of bitcoin was around $62,800, marking a slight 1.27% drop in the last 24 hours after falling below $66,000. However, the news led to positive developments in Metaplanet shares, which were up 4.24% on Tuesday, trading around ¥1,033. Japan's broader Nikkei 225 stock index also posted a gain of 1.91%.

Metaplanet has been actively increasing its holdings in bitcoin since May this year, when it announced it was including bitcoin among its strategic reserve assets. The move is part of a growing trend of institutions and companies holding significant amounts of bitcoin as part of their investment strategies.

In the global market, the most significant institutional bitcoin holder is MicroStrategy, led by Michael Saylor, which owns 252,220 BTC. In second place is Marathon Digital with 26,200 BTC, according to data available on BitcoinTreasuries.

This new investment by Metaplanet confirms the continued interest in bitcoin and its position as a significant asset within the modern investment portfolio. With an increasing number of companies adopting bitcoin as part of their reserves, it is probably to be expected that this cryptocurrency will play an increasingly important role in the global market.

*This is not investment advice.

Coingarage Team