Japanese investment firm Metaplanet Inc. is maintaining its bullish outlook for the world’s largest cryptocurrency, announcing today that it has purchased an additional 38,464 bitcoins worth about 300 million yen ($2 million).
Tokyo listed company disclosed name The recent purchase brings his total Bitcoin holdings to 398,832 bitcoins, or about 3.75 billion yen ($26 million).
Bitcoin Bitcoin
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After crashing to a low of around $52,700 earlier this week, it is up 3.12% over the last 24 hours to trade at $56,732 at the time of writing. Price page of the block.
According to Yahoo Finance, Metaplanet shares rose 4.42% in Japan on Tuesday, trading at around 1,086 yen after hitting a high of around 2,000 yen earlier today. The stock is still trading in the afternoon session. The Nikkei 225 index was little changed, up 0.02%.
Metaplanet has been on a Bitcoin buying frenzy in recent months since announcing in May that it would be accepting Bitcoin as its asset. Strategic Financial Reserve Assets“This action is a direct response to Japan’s ongoing economic pressures, particularly its high levels of government debt, its prolonged period of negative real interest rates, and the resulting weakness in the yen,” the company said at the time.
Monday, Metaplanet announce The company said it will exercise its 11th stock subscription right and generate a profit of 299.7 million yen. “The funds received will be used to purchase bitcoin,” the company said.
Last week, Metaplanet also Said It said it was partnering with SBI VC Trade, the cryptocurrency arm of Japanese financial giant SBI Group, to provide “access to a compliant corporate custody service that prioritizes tax efficiency and offers the potential to leverage Bitcoin as collateral for financing.”
Meanwhile, MicroStrategy, led by Michael Saylor, remains the largest corporate Bitcoin holder, owning 226,500 BTC, according to BitcoinTreasuries. dataMarathon Digital continued this record by recording 25,000 BTC.
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