- Metaplanet has added over $1M to its Bitcoin treasury.
- The company’s move comes after it revealed last week a multimillion-dollar BTC buying plan.
- The latest Bitcoins were acquired at $61,398 per BTC.
Japanese investment adviser Metaplanet announced Monday a million-dollar purchase to boost its Bitcoin treasury.
Often compared to MicroStrategy, Metaplanet is a publicly listed company on the Tokyo Stock Exchange focused on pivoting towards a “Bitcoin-centric vision.” On June 24, the company said it planned to acquire Bitcoin worth over $6 million, a month after making BTC a “strategic treasury reserve asset.”
Metaplanet Fast Tracks Bitcoin Strategy
According to a notice issued on July 1, Metaplanet Inc. has begun to execute its Bitcoin acquisition strategy by purchasing 20.195 Bitcoins at an average price of 9,903,441 yen (about $61,398) per BTC.
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The 200-million-yen ($1.2 million) purchase took Metaplanet’s total holdings to 161.2677 Bitcoins, bought at an average price of 10,231,438 yen ($63,428) per BTC. The aggregate purchasing amount for the entire holdings is 1.65 billion yen ($9.9 million).
Today’s development marks Metaplanet’s fourth Bitcoin purchase over the past four months, underscoring its consistent accumulation strategy. The company made the previous purchases in April, May, and June.
Metaplanet’s Bitcoin plan mirrors strategies by other major companies leveraging Bitcoin to hedge against weakening fiat currencies and economic instability, such as MicroStrategy. While MicroStrategy hasn’t been as consistent as Metaplanet in Bitcoin acquisitions this year, the company holds over 1% of the crypto asset’s entire supply.
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Meanwhile, Japanese businesses are flocking to the crypto industry. A June survey on the local market by Nomura indicated that 54% of investment managers plan to deploy funds to crypto via structured vehicles, such as ETFs over the next three years.
Read about Metaplanet’s ‘Bitcoin-first’ treasury:
Metaplanet Sets Up “Bitcoin First Bitcoin Only” Treasury Plan
Stay updated on the genesis of Metaplanet’s Bitcoin strategy:
Metaplanet Makes BTC Play to Seize Japan’s Digital Market
