According to reports from The Block: Tokyo-listed Metaplanet Inc. announced today that it purchased an additional 619.7 BTC after raising nearly $61 million last week through a bond issuance.
This Japanese investment firm spent nearly $61 million to purchase additional Bitcoin, continuing its bullish outlook on the world's largest cryptocurrency.
Metaplanet stated on Monday that the 619.7 BTC purchased, based on current market prices, is worth approximately $58.9 million, trading at an average purchase price of 15.3 million yen (about $97,786) per Bitcoin. This increases the company's total Bitcoin holdings to 1,761.98 BTC, worth about $167.1 million.
This Tokyo-listed company made its latest Bitcoin purchase after raising 9.5 billion yen (approximately $60.6 million) last week through two rounds of bond issuance, in order to 'accelerate Bitcoin procurement.'
Metaplanet has been actively purchasing Bitcoin since May, when it began to treat it as a strategic financial reserve asset.
According to Yahoo Finance, Metaplanet's stock closed down 0.98% in Japan on Monday, at 3,540 yen, up 1,982% year-to-date.
As of this writing, Bitcoin has dropped 1% in the past 24 hours, trading at $95,221. Ethereum fell 1.2%, trading at $3,292. The GMCI 30 index from The Block, which measures the performance of the top 30 cryptocurrencies, saw a slight decline of 0.93% in the past day.
Meanwhile, MicroStrategy remains the largest public corporate holder of Bitcoin, with 439,000 BTC, according to data from BitcoinTreasuries.
