Metaplanet takes its love for Bitcoin one step further! đ Plans to buy an extra $6 million worth of BTC. This is on top of its existing $9 million investment.
Financing of these purchases will be provided by bond issues to be held on Wednesday. Following this announcement, stock prices increased by 12%. đ
Metaplanet began buying Bitcoin in April and reduced its yen exposure to offer Japanese investors access to the crypto with a preferential tax structure. It adopted BTC as a reserve asset in May and made another $1.6 million purchase in June.
Metaplanet holds 141 BTC as of Monday and is the largest institutional holder of Bitcoin in Japan.
Bitcoin is down 3% in the last 24 hours and is trading at $63,200 in Asian afternoon hours. But hey, it's just a downgrade, right? đ
So what do you think? I'm waiting for your comments!#DeFi#Web3