Japanese investment firm Metaplanet Inc. has further increased its bitcoin holdings by purchasing an additional 108.786 BTC for 1 billion yen ($6.7 million). With this latest acquisition.
Metaplanet’s total bitcoin holdings now stand at 639.503 BTC, worth approximately $40.6 million at current market prices.
The Tokyo-listed company announced on Monday that the average price of its most recent bitcoin purchase was 9.19 million yen ($61,880) per BTC. Across all its bitcoin acquisitions, Metaplanet has bought its holdings at an average price of 9.32 million yen ($62,789) per bitcoin.
Metaplanet has been consistently accumulating bitcoin over the past few months, having adopted the cryptocurrency as its strategic treasury reserve asset earlier this year. In May, the company began its bitcoin buying spree, with the latest purchase coming just a week after it bought an additional 107.913 BTC, also for 1 billion yen.
Alongside its bitcoin purchases, Metaplanet reported last week that it had earned 23.972 BTC, equivalent to $1.52 million at current prices, by selling bitcoin options and collecting premiums to grow its cryptocurrency reserves.
Bitcoin has been showing strong performance, rising 2.84% in the past 24 hours to $63,594 after briefly dipping near $60,000 last week. Metaplanet’s stock has surged in tandem, jumping 11% to 1,017 yen on Monday, while Japan’s Nikkei 225 index climbed 2.2% on the same day.
According to data from BitcoinTreasuries, MicroStrategy, led by Michael Saylor, remains the largest corporate holder of bitcoin, with 252,220 BTC. Marathon Digital follows with 26,842 BTC.
Metaplanet’s continued investment in bitcoin highlights its confidence in the long-term potential of the world’s largest cryptocurrency as both a reserve asset and a source of earnings through financial instruments like options.
