Japanese investment firm Metaplanet Inc. announced today that it has purchased an additional 57,273 bitcoins worth about 500 million yen ($3.4 million), continuing its accumulation of the world’s largest cryptocurrency.
Tokyo listed company disclosed name The latest purchase is said to be part of a plan announced on August 8. Secured a loan of 1 billion yen (6.8 million dollars) To buy more Bitcoin.
“With this purchase, we have completed the purchase of 1 billion yen worth of Bitcoin,” the company said. According to the statement, this brings the company’s total Bitcoin holdings to 360,368 Bitcoins.
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.
According to Google Finance, Metaplanet shares were up 10.7% Tuesday morning, currently trading at 1,192 yen after hitting a high of 1,293 yen. The stock is still trading in the morning session. The Nikkei 225 index is up 1.7% so far this morning.
Meanwhile, MicroStrategy, led by Michael Saylor, is the largest corporate Bitcoin holder, owning 226,500 Bitcoins. Bitcoin
+3.40%
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