Following last month’s announcement that it would “issue debt to raise funds to purchase Bitcoin,” Japanese listed company Metaplanet announced today (8) that it had spent 390 million yen (approximately US$2.44 million) to increase its holdings of an additional 42.47 Bitcoins.

The total number of Bitcoins currently held by Metaplanet has reached approximately 203.734, worth approximately US$11.73 million, and the average cost of each Bitcoin is US$62,719.

*Metaplanet purchases additional 42.47 $BTC* pic.twitter.com/dPotWszW1Y

— Metaplanet Inc. (@Metaplanet_JP) July 8, 2024

Metaplanet is a cryptocurrency investment and consulting company listed in Tokyo. In May this year, it officially adopted Bitcoin as a "strategic reserve asset" in order to seek safety in it, hoping to use it to hedge against the severe financial debt in Japan, which caused the yen to plummet. situation.

Metaplanet announced on June 24 this year that after discussion by the board of directors, it was decided that the company would issue 1 billion yen (approximately US$6.26 million) in bonds to raise funds to increase its holdings of Bitcoin, following the example of MicroStrategy in raising funds from the market to increase its purchase of Bitcoin. Coin practices.

〈Total holdings exceed 203 coins! Metaplanet spent 390 million yen to buy 42 more Bitcoins. This article was first published on "Blocker".