Metaplanet acquires more Bitcoin as market rebounds to $63k Insights BitcoinCrypto Equities
Metaplanet acquires more Bitcoin as market rebounds to $63k
Metaplanet acquires over 20 Bitcoin for $1.24M, share price jumps 1% as holdings rise to 161 BTC.
Quick Take
On July 1, Metaplanet acquired an additional 20.195 Bitcoin, bringing its total holdings to 161.26 Bitcoin. The company spent 200 million yen ($1.24 million) on its latest purchase, with an average price of 9,903,441 yen ($61,506) per Bitcoin.
The acquisition is part of Metaplanet’s long-term plan to increase its Bitcoin stack. On June 24, the company announced plans to issue 1 billion yen worth of bonds (or around $6.26 million) to support additional Bitcoin acquisitions.
The company’s average purchase price for Bitcoin now stands at 10,231,438 yen ($63,543), with a total investment of 1.65 billion yen. This strategic move comes as Bitcoin surpasses $63,000, boosting Metaplanet’s share price by 1% today and marking a 525% increase year to date.
Meanwhile, the Japanese yen continues to weaken, now trading at 161 against the US dollar.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Metaplanet
Metaplanet Inc., a publicly traded company listed on the Tokyo Stock Exchange (3350), is a Japanese company that has undergone a strategic transformation to focus on Bitcoin.
