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Home»ADOPTION NEWS»Japan’s Metaplanet has purchased an additional $3.3 million worth of Bitcoin, bringing its holdings to 303 BTC.
ADOPTION NEWS

Japan’s Metaplanet has purchased an additional $3.3 million worth of Bitcoin, bringing its holdings to 303 BTC.

By Crypto FlexsAugust 13, 20242 Mins Read
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Japan’s Metaplanet has purchased an additional .3 million worth of Bitcoin, bringing its holdings to 303 BTC.
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Company • Aug 13, 2024 5:16 AM EDT

Posted 1 minute earlier ~ in

Japanese investment firm Metaplanet Inc. is continuing its bullish stance on the world’s largest cryptocurrency, announcing today that it has purchased an additional 57.1 bitcoins worth about $3.3 million.

The Tokyo-listed company said: name He later revealed that he had purchased an additional 500 million yen worth of Bitcoin. Secured $6.8 million loan I bought more cryptocurrencies last week.

This brings Metaplanet’s total Bitcoin holdings to 303,095 bitcoins, the company added.

Metaplanet’s stock price fell 5.8% on Tuesday, closing at 1,121 yen. The stock has soared 600% so far this year, peaking at 3,000 yen on July 24. The Nikkei 225 index was up 3.45% at the close today.

Last week, Metaplanet announced that it had received a total loan of 1 billion yen ($6.8 million) at an annual interest rate of 0.1% and that it plans to use most of the loan amount to purchase bitcoin.

“Always hoard bitcoin,” wrote Simon Gerovich, CEO of Metaplanet. mail Today at X.

In May, the company announced that it had begun 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.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

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