Japanese investment firm Metaplanet Inc. has announced the acquisition of an additional 57.273 bitcoin, valued at approximately 500 million yen ($3.4 million). This purchase is part of the company's broader strategy to increase its bitcoin holdings, following a 1 billion yen ($6.8 million) loan secured on August 8 for this purpose.
With this latest acquisition, Metaplanet's total bitcoin holdings now amount to 360.368 BTC. The company began integrating bitcoin into its treasury reserves in May, citing Japan's economic challenges, such as high government debt and weak yen, as key factors in its decision.
Metaplanet's stock saw a 10.7% increase on Tuesday, trading at 1,192 yen, after peaking at around 1,293 yen. This rise comes amid a 1.7% gain in the Nikkei 225 index.
In the broader context, MicroStrategy remains the largest corporate holder of bitcoin with 226,500 BTC, followed by Marathon Digital with 25,000 BTC, according to BitcoinTreasuries data.
August 2024, Cryptoniteuae