Key Takeaways:
- Metaplanet increased its Bitcoin holdings by purchasing 42,466 BTC for $2.5 million.
- The firm now holds a total of 203,734 BTC, acquired at an average price of $62,000 per BTC.
- This purchase reflects Metaplanet’s confidence in Bitcoin despite recent price drops.
Metaplanet, a publicly-listed investment and consulting firm in Japan, has increased its Bitcoin holdings by purchasing an additional 42,466 BTC for 400 million Japanese yen ($2.5 million).
This purchase was announced on July 7 via the social media platform X.
*Metaplanet purchases additional 42.47 $BTC* pic.twitter.com/dPotWszW1Y
— Metaplanet Inc. (@Metaplanet_JP) July 8, 2024
As a result, Metaplanet now holds a total of 203,734 BTC, acquired at an average price of around 10 million yen ($62,000) per BTC.
This average purchase price is approximately 7% higher than the current BTC price.
JUST IN: 🇯🇵 Japanese public company Metaplanet buys another ¥400 million worth of #Bitcoin pic.twitter.com/mT4cPKEcSP
— Bitcoin Magazine (@BitcoinMagazine) July 8, 2024
This indicates the firm’s continued confidence in the cryptocurrency despite recent price drops.
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Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
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