Metaplanet Makes Another Bitcoin (BTC) Acquisition Worth $6.9 Million

  • 📰 Crypto_Potato
  • ⏱ Reading Time:
  • 67 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Crypto Blog

Japanese investment firm Metaplanet Inc. has announced the acquisition of an additional 107.913 BTC worth approximately a billion yen .

This brings the company’s total Bitcoin holdings to 506.745 BTC, valued at roughly $32.2 million based on current market prices.that the latest purchase was made at an average price of 9.26 million yen, worth $64,168 per BTC. With this acquisition, Metaplanet’s cumulative investment in Bitcoin now stands at 4.75 billion yen , with an average cost of 9.37 million yen per BTC.to adopt the cryptocurrency as a key part of its treasury reserve.

This decision to invest heavily in the asset is a response to ongoing economic instability following the COVID-19 pandemic. Metaplanet has consistently increased its exposure to Bitcoin in response to concerns about inflation and currency devaluation, viewing the digital asset as a potential hedge against such risks.Metaplanet’s investment strategy has been compared to that of U.S.-based MicroStrategy, led by Michael Saylor.

Additionally, it is reportedly exploring the tokenization of its shares on the Bitcoin layer-2 network, Liquid. The company’s shares are currently traded on the Tokyo Stock Exchange, which restricts access for U.S. investors.One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 568. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Metaplanet Stock Soars 6% Following Another Bitcoin (BTC) AcquisitionCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »