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Metaplanet boosts Bitcoin holdings to $45M with new purchase

Metaplanet boosts Bitcoin holdings to $45M with new purchase

GrafaGrafa2024/10/12 03:05
By:Mahathir Bayena

Tokyo-based investment firm Metaplanet has expanded its Bitcoin (CRYPTO:BTC) reserves, adding an additional 108.99 BTC to its growing portfolio.

With this recent acquisition, the company now holds a total of 748.50 BTC, valued at approximately $45.86 million as of October 11, 2024.

According to a statement shared on X (formerly Twitter), Metaplanet invested ¥1 billion (around $6.7 million) in this latest purchase.

The company disclosed that it acquired each Bitcoin at an average price of ¥9,174,396, or roughly $61,542 per unit.

Dubbed the “Japanese MicroStrategy,” Metaplanet has consistently emphasised its strategy of building a significant Bitcoin reserve.

The firm has shown continued confidence in the long-term value of Bitcoin, signaling its intentions through repeated investments.

This recent purchase marks another step in the company’s broader strategy to expand its digital asset holdings.

Metaplanet’s growing Bitcoin war chest underscores its belief in Bitcoin’s potential, positioning the firm as a prominent player in both the cryptocurrency space and traditional financial markets.

The investment also sends a message to other institutional players, highlighting the potential benefits of diversifying portfolios with digital assets.

At the time of writing, the Bitcoin price was $62,848.68.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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