Meta planet Follows MicroStrategy Footsteps, Buys More Bitcoins
Metaplanet stock rises 12% after buying $3.4 million in Bitcoin, solidifying its position as Japan's largest BTC holder.
The firm now holds 360.368 BTC, driven by Japan's currency struggles and inspired by MicroStrategy's strategy.
Metaplanet’s stock surged 12% after the Japan-based investment firm expanded its Bitcoin (BTC) holdings. Following its commitment earlier this month, the company invested 500 million yen (approximately $3.4 million) into Bitcoin.
Japan continues to strengthen its position as a leader in cryptocurrency adoption. With the yen weakening and government officials issuing warnings, more investors are turning to digital assets as a hedge.
Metaplanet Completes 1 Billion Yen Worth Bitcoin Purchase.In an August 8 commitment letter, Metaplanet announced plans to purchase 1 billion yen worth of Bitcoin. The latest acquisition fulfills that promise.
The investment firm bought 57.273 BTC at an average price of 8,730,117 yen per token. With this purchase, Metaplanet’s total Bitcoin holdings have grown to 360.368 BTC, acquired at an average price of 9,573,556 yen per BTC.
As previously reported by Be In Crypto, the firm purchased 20.195 BTC valued at $1.02 million in early July, making it Japan’s largest corporate Bitcoin holder. The latest acquisition further strengthens this position, indicating rising crypto adoption in the country.
