Japanese investment firm Metaplanet bought another 20.38 Bitcoin to its BTC treasury and has now hit its 1 billion yen investment target, the company said in a press release on Monday.
The company announced in late June that it intends to invest a total of 1 billion yen in Bitcoin (BTC) — worth just under $6.4 million as of press time.
“As disclosed in our announcement dated June 24, 2024, regarding the purchase of Bitcoins worth 1 billion yen, we hereby announce that we have purchased additional 200 million yen worth of Bitcoins as below,” the company wrote. “With this purchase, we have completed the purchase of 1 billion yen worth of Bitcoins.”
As disclosed in our announcement dated June 24, 2024, regarding the purchase of Bitcoins worth 1 billion yen, we hereby announce that we have purchased additional 200 million yen worth of Bitcoins as below. With this purchase, we have completed the purchase of 1 billion yen worth of Bitcoins.
Metaplanet’s stock, which trades under the 3550 ticker on the Tokyo Stock Exchange, ended the day at 173 yen after having gained 19% over its previous close. Earlier in the day, shares of the Japense investment firm were changing hands for 195 yen, which marked at 34% gain from Friday’s closing price.
Japan’s MicroStrategy
Data contained in the announcement show that the company added 20.381 BTC to its coffers at an average price of 9,813,061 yen per Bitcoin — spending a total of 200 million yen worth under $1.3 million as of press time. The company’s 1 billion yen purchase resulted in 104.919 BTC acquired at an average price of 9,531,162 yen per Bitcoin or just under $61,000.
The company’s total Bitcoin holdings are now 245.992 BTC worth $16.56 million as of press time. Under a week ago, Decrypt reported about Metaplanet acquiring $1.2 million of Bitcoin after acquiring $6 million at the beginning of the month.
A Metaplanet spokesperson explicitly told Decrypt that the firm intends to emulate MicroStrategy—the world’s top corporate Bitcoin holder. According data compiled by BitcoinTreasuries, as of June 20 MicroStrategy held a total of 226,331 BTC worth $15.24 billion as of press time.
The company is going all-in on Bitcoin and has gone as far as to hire industry analyst Dylan LeClair back in early May.
“The Company is excited to welcome Dylan LeClair as Director of Bitcoin Strategy,” the company wrote at the time. “Being a prominent advocate for Bitcoin adoption asa a solution to fiat currency debasement, Dylan brings expertise in Bitcoin and macroeconomic analysis.”
Edited by Stacy Elliott.
