'Asia's MicroStrategy' Metaplanet announces new Bitcoin purchase, boosts holdings to $14.5 million
The company is using Bitcoin as a reserve asset to deal with economic challenges in Japan.
Key Takeaways
- Metaplanet acquired $1.2 million worth of Bitcoin.
- This is Metaplanet's sixth Bitcoin purchase in the last four months.
Share this article
Metaplanet, the Japanese public company often compared to MicroStrategy, has purchased 21.88 Bitcoin (BTC), worth 200 million Japanese Yen ($1.2 million), the company shared in a Monday post. The latest acquisition brings its total BTC holdings to 225.6 BTC, valued at over $14.5 million.
*Metaplanet purchases additional 21.88 $BTC* pic.twitter.com/zCXzKFudog
— Metaplanet Inc. (@Metaplanet_JP) July 16, 2024
The purchase follows the recent one made last week when the company announced it added ¥400 million worth of Bitcoin to its portfolio. The average purchase price per Bitcoin is around $62,800, Metaplanet noted.
Metaplanet has steadily acquired more BTC since earlier this year. The company has made Bitcoin its principal treasury reserve asset, with the goal of maximizing shareholder value through strategic, perpetual Bitcoin accumulation.
Metaplanet’s Bitcoin-centric strategy is similar to other major companies like MicroStrategy. As of July 15, MicroStrategy holds 226,331 BTC, worth around $14,6 billion, according to BitcoinTreasuries.net.
Share this article
