Million Dollar Crypto Move from the Japanese Giant: Which Coin Did They Buy?

Metaplanet Inc., a publicly traded company in Japan, announced a new buying round, doubling down on its Bitcoin investment strategy.

According to the update, Metaplanet bought a total of 20,195 Bitcoin units and paid an average of 9,903,440 yen for each BTC. The value of this latest round of buying was estimated at approximately 200 million yen, or $1,242,180.

Metaplanet began its Bitcoin accumulation strategy earlier this year and aims to follow MicroStrategy's lead. The company is the first Asian listed company to fully embrace #Bitcoin as a reserve asset in its treasury.

Metaplanet has now established a strategy of making Bitcoin purchases almost every month and has been more consistent than MicroStrategy in this regard. After this latest acquisition, the company's #BTC holdings reached 161.2677 and the average price for each unit was 10,231,438 yen. This means his total portfolio has a market value of 1.65 billion yen, or $10.24 million.

Like MicroStrategy, Metaplanet acquired some of its portfolio of $BTC through debt offerings. The company announced on June 24 that it issued bonds worth one billion yen and the proceeds were used to purchase more Bitcoin.

While MicroStrategy's #Bitcoin investments are larger in terms of dollar value, Metaplanet Inc.'s BTC strategy looks quite bold.

With this latest acquisition, Metaplanet is further increasing interest in Bitcoin, leading other Asian multinationals to embrace this trend in the near future.