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.
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