Japanese investment firm Metaplanet Inc. announced that it has acquired an additional 107.913 Bitcoins for about 1 billion yen, equivalent to $6.9 million. The firm continues to show strong confidence in Bitcoin, the world’s largest cryptocurrency.
According to the Tokyo-listed company, it made this latest purchase at an average price of 9.26 million yen, or roughly $64,168, per Bitcoin. This acquisition increases Metaplanet’s total Bitcoin holdings to 506.745 Bitcoin. Based on current market prices, the overall value of their total holdings is approximately $32.2 million.
Metaplanet’s 4.75 Billion Yen Investment Highlights Confidence in Crypto Market
In the latest filing, Metaplanet disclosed that it has bought all the Bitcoins for 4.75 billion yen, with an average price of 9.37 million yen per Bitcoin, or around $64,931. This shows that the firm is still keen to acquire more digital assets. Moreover, it clearly indicates that it has a long-term plan for the crypto market.
This announcement indicates a gradual shift in institutional investors’ adoption of cryptocurrencies in their investment portfolios. Metaplanet’s plan to acquire more Bitcoins regularly will enable the company to become an important player in the growing field of cryptocurrencies.
This recent purchase puts Metaplanet in the same league as other serious players in the market. Notably, MicroStrategy, led by Michael Saylor, remains the most significant corporate holder of BTC. According to BitcoinTreasuries, it has a sizeable 252,220 BTC. Second on this list is Marathon Digital Holdings, with 26,200 BTC.
Ultimately, the latest investment shows that it trusts Bitcoin and waits for long-term returns. This is because as the cryptocurrency market grows, the firm’s strategic actions may determine its future performance. Specifically, investors will be interested in Metaplanet is actions to support its development. Moreover, they are also looking at the company’s share within the cryptocurrency market trends. As institutions continue to pay more attention to Bitcoin, the future of digital currencies appears to be bright.
