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.
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