Japanese Firm Metaplanet Doubles Down on Bitcoin, Acquires Another 42.47 BTC

Japanese Firm Metaplanet Doubles Down on Bitcoin, Acquires Another 42.47 BTC

Source Node: 2631965

Metaplanet, a Japanese company publicly traded on the Tokyo Stock Exchange, has announced the acquisition of an additional 42.47 Bitcoin (BTC) for approximately 400 million yen, or around $2.3 million.

The acquisition comes on the heels of the firm’s latest Bitcoin purchase last week, where it spent ¥200 million to buy 20.195 BTC for around 0,903,441 yen per Bitcoin. Its latest buy was 42.466 BTC for 400 million yen, where it spent around 9,419,300 yen per coin.

The firm’s total Bitcoin holdings are now at 203.734 BTC, with an average purchase price of 10,062,517 yen per coin, with 2.05 billion yen having been spent on the flagship cryptocurrency.


Not in use


According to data from CryptoCompare, Bitcoin is currently trading at 9,180,000 yen per BTC after falling by more than 16% over the past month amid a wider cryptocurrency market sell-off.  

Source: CryptoCompare

Metaplanet Inc., headquartered in Tokyo, Japan, is a multifaceted company that engages in diverse industries, primarily focusing on technology and finance. The company is publicly traded on the Tokyo Stock Exchange under the code 3350 and is known for its forward-thinking strategies and investments, including ventures into emerging financial technologies like cryptocurrencies.

While the company has been increasing its Bitcoin holdings, data from Bitcontreasuries shows it’s far from being among the leading corporate holders of the cryptocurrency. The first position goes to MicroStrategy, which has 226,331 BTC in its treasury, while the runner-up is Marathon Digital Holdings, which has 18,536 BTC.

Featured image via Unsplash.

Time Stamp:

More from CryptoGlobe