Metaplanet purchases additional 7M in Bitcoin
Metaplanet has acquired an additional 108.786 Bitcoin (BTC) for 1 billion yen ($6.7 million). The company said in a statement that with the Bitcoin acquisition, its total holdings have increased to 639.503 Bitcoin, or roughly $40.54 million based on current market prices.
The additional 108.786 Bitcoins were purchased by Metaplanet at an average price of 9.19 million yen ($61,880) each, and the total amount of Bitcoins was purchased at an average price of 9.32 million yen ($62,789).
*Metaplanet purchases additional 108.78 $BTC* pic.twitter.com/Pz2AHupm1T
— Metaplanet Inc. (@Metaplanet_JP) October 7, 2024
Metaplanet earns over $1 million in BTC
The company announced on October 3rd that it had made 23.972 BTC, or $1.52 million at the time, by selling Bitcoin options and keeping the premiums it received in order to increase its holdings.
Metaplanet Bitcoin purchase
This is the second time that Japan will purchase Bitcoin assets for its reserves totaling one billion yen this month. After announcing in May that it had begun to use Bitcoin as its strategic treasury reserve asset, the company has been buying Bitcoins consistently in recent months. Metaplanet bought 1 billion yen to acquire 107.913 Bitcoin on October 1st, increasing its reserves above 500 BTC.
As of Monday in Japan, Metaplanet's stock had risen 7.86% to 988 yen, as per Google Finance.
According to CoinMarketCap data, Bitcoin increased 1.32% in the last day to trade at $62,936.71 as of this writing. Last week, it was trading close to $60,000.
MicroStrategy remains largest corporate BTC holder
With 252,220 BTC, Michael Saylor's MicroStrategy is still the biggest corporate Bitcoin holder, according to data from Bitcoin Treasuries. Reputed for its large Bitcoin holdings, this Virginia-based intelligence software company tops a list of global companies making significant Bitcoin investments.
MicroStrategy has acquired Bitcoin at an exponential rate since 2020; as of right now, its holdings are roughly ten times greater than those of the next largest corporate holder. MicroStrategy's shares have soared over 350% in 2023 as a result of its aggressive Bitcoin investment strategy, demonstrating the impact of this strategy on the company's market value.
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