This was announced by Japanese investment company Metaplanet. An additional 20.195 was purchased shortly after the Tokyo Stock Exchange closed on Monday. BTC
+2.02%
For 200 yen (1.2 million dollars).
This latest acquisition increases Metaplanet’s holdings to 161.2677 BTC, equivalent to more than $10.1 million at current prices, the company said. Bitcoins were acquired for a total of 1.65 billion yen ($10.2 million), with an average purchase price of $63,427 per bitcoin.
On June 24, Metaplanet announced that its board of directors had agreed to purchase 1 billion yen ($6.3 million) worth of Bitcoin using capital raised through an upcoming bond issue.
Monday’s announcement marks the first acquisition in the process and comes after the company purchased an additional 250 million yen worth of bitcoin in June.
Follow in MicroStrategy’s footsteps
According to data from Bitcointreasuries.net, Metaplanet previously purchased Bitcoin on April 23, May 10, and June 11, following a similar strategy to that of US business intelligence firm MicroStrategy.
The company said in May that “this move is a direct response to Japan’s ongoing economic pressures, particularly its high levels of government debt, long-term negative real interest rates and the resulting weakness in the yen.”
MicroStrategy, which started buying Bitcoin as a major Treasury reserve asset in 2020, currently holds 226,331 BTC (worth $14.1 billion), which is more than 1% of Bitcoin’s total supply of 21 million. It recently acquired 11,931 BTC for $786 million.
Metaplanet’s TSE-traded shares rose 1% on Monday and are up more than 233% since it began buying bitcoin, according to TradingView.
Metaplanet stock price. Image: TradingView.
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