Key Points
- Metaplanet bought 20.38 BTC worth $1.2 million.
- The purchase marks the completion of its 1 billion yen (almost $6.3 million) purchase plans.
According to the latest official reports, the Japanese investment firm Metaplanet has bought another 20.38 BTC worth $1.2 million.
On July 22, the company revealed its latest purchase of BTC at an average price of over 9,8 million yen ($62,484) yen per Bitcoin.
In the official announcement released by the firm, they announced that the total number of BTC purchased equals 20.381 BTC, and the average purchase price was around 9,8 million yen per coin.
The aggregated amount purchased was 200 million yen.
According to Metaplanet, the result of its 1 billion yen purchase includes the following information:
- 104.9 BTC in total (worth about $7 million)
- An average purchase price of 9,53 million yen per BTC
- An aggregated amount purchased of 1 billion yen
The firm’s total Bitcoin holdings equal almost 246 BTC worth about $16.5 million at current prices.
Metaplanet’s Bitcoin Purchase Plans
Back in June, Metaplanet revealed its 1 billion yen (worth about $6.3 million at current prices) purchase plans. On June 24, the company revealed that it would issue bonds to raise money to buy Bitcoin.
The consulting firm said that the basic policy is to hold Bitcoin for the long term.
On April 8, the firm announced that it would embrace Bitcoin as a core treasury asset. Metaplanet announced that it was initially committing $6.5 million to buy BTC, describing the move as a milestone in its goal to position itself as a “pioneer in the adoption of digital assets in Japan.”
Metaplanet Stocks Surged 810% Since 1st BTC Purchase
Since the first Bitcoin investment in April, Metaplanet’s share price has surged from $0.12 to $1.10, seeing an 810% increase in the price since the original announcement.
Japan’s Metaplanet has been compared to the US company MicroStrategy due to the similar decision to adopt Bitcoin for long-term holding. The company was called Asia’s MicroStrategy by Jason Fang, founder of Sora Ventures.
Metaplanet’s move was reportedly a direct response to sustained economic pressure in Japan.
