Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Metaplanet continues bitcoin buying spree with latest $61 million purchase

Metaplanet continues bitcoin buying spree with latest $61 million purchase

The BlockThe Block2024/12/22 16:00
By:The Block

Quick Take The Tokyo-listed firm announced today that it purchased an additional 619.7 BTC after it raised almost $61 million through bond issuance last week.

Metaplanet continues bitcoin buying spree with latest $61 million purchase image 0

Japanese investment firm Metaplanet Inc. spent nearly $61 million to buy additional bitcoin as it remains bullish on the world’s largest cryptocurrency.

Metaplanet said on Monday that it bought an additional 619.7 BTC, or $58.9 million based on current market prices, for 9.5 billion yen ($60.6 million) at an average purchase price of 15.3 million yen ($97,786) per bitcoin. This boosted the company’s total holdings to 1,761.98 BTC, or about $167.1 million.

The Tokyo-listed firm made its latest bitcoin purchase after raising 9.5 billion yen ($60.6 million) through two tranches of bond issuance last week to “accelerate bitcoin purchases.”

The company started adopting Bitcoin as a strategic treasury reserve asset in May and has since been on a buying spree.

Metaplanet’s stock closed down 0.98% at 3,540 yen on Monday in Japan, having risen 1,982% year-to-date, according to Yahoo Finance. 

Bitcoin dropped 1% over the past 24 hours to trade at $95,221 at the time of writing, according to The Block’s price page . Ether lost 1.2% to change hands at $3,292. The Block's GMCI 30 index , which measures the performance of the top 30 cryptocurrencies, edged down 0.93% in the past day.

Meanwhile, MicroStrategy remains the largest public corporate bitcoin holder, owning 439,000 BTC, according to data from BitcoinTreasuries.


17

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

No wonder Buffett finally bet on Google

Google holds the entire chain in its own hands. It does not rely on Nvidia and possesses efficient, low-cost computational sovereignty.

深潮2025/11/29 05:56
No wonder Buffett finally bet on Google