Japanese Investment Firm Metaplanet Increases Its Bitcoin Stash by 57.273 BTC

Japanese investment firm Metaplanet announced that it had increased its stash of Bitcoin assets by buying an additional 57.273 Bitcoin worth about $3.4 million.

Japanese investment firm Metaplanet announced on Wednesday that it had increased its stash of Bitcoin assets by buying an additional 57.273 Bitcoin, an acquisition that is worth about $3.4 million at current prices.

The Tokyo-based investment firm, which now holds about 360.368 Bitcoin assets, had announced plans on August 8 to acquire more bitcoins after securing loans.

The latest purchase was announced in a statement by Metaplanet, which disclosed the amount of Bitcoin being purchased and the quantity of the total Bitcoin stash held by the firm.

“As disclosed in our announcement dated August 8, 2024, regarding the loan and purchase of Bitcoins worth 1 billion yen, we hereby announce that we have purchased an additional 500-million-yen worth of Bitcoins as below.

With this purchase, we have completed the purchase of 1-billion-yen worth of Bitcoins.

Number of Bitcoins Purchased： 57.273 Bitcoins

Average Purchase Price： 8,730,117 yen per Bitcoin

Aggregated Amount Purchased： 500 million yen

Total Bitcoin Holdings： 360.368 Bitcoins

Average Purchase Price： 9,573,556 yen per Bitcoin

Aggregated Amount Purchased： 3.45 billion yen”

In May, Metaplanet announced that it had started acquiring Bitcoin as a strategic treasury reserve asset.

“The move is a direct response to sustained economic pressures in Japan, notably high government debt levels, prolonged periods of negative real interest rates, and the consequently weak yen,” Metaplanet said.

Metaplanet's stock price rose on Tuesday following the company's bitcoin purchase. According to Google Finance, Metaplanet stock was trading 10.7% higher on Tuesday morning at $8.14, up from a low of $7.14 on Monday.

The stock price reached a high of $8.83 on Tuesday morning as trading activity remained above average.

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