Japanese Company Metaplanet Sees 19% Increase After Expanding Bitcoin Holdings

Japanese investment firm Metaplanet has recently made a significant move in the crypto space by acquiring an additional 20.38 Bitcoin to its BTC treasury, reaching its 1 billion yen investment target. The company announced its intention to invest a total of 1 billion yen in Bitcoin, equivalent to just under $6.4 million. This purchase was completed with the recent acquisition of 200 million yen worth of Bitcoins, bringing their total investment to 1 billion yen.

Metaplanet’s stock, traded under the 3550 ticker on the Tokyo Stock Exchange, saw a significant increase of 19% over its previous close, ending the day at 173 yen. The company’s strategic move to invest in Bitcoin is in line with their goal to follow in the footsteps of MicroStrategy, a leading corporate Bitcoin holder.

The data from the announcement revealed that the company acquired 20.381 BTC at an average price of 9,813,061 yen per Bitcoin, totaling 200 million yen or approximately $1.3 million. With this purchase, Metaplanet now holds a total of 245.992 BTC, valued at $16.56 million.

Metaplanet’s decision to focus on Bitcoin is further emphasized by their hiring of industry analyst Dylan LeClair as Director of Bitcoin Strategy. This move signifies the company’s commitment to Bitcoin adoption and macroeconomic analysis.

The company’s dedication to Bitcoin investment is evident in their pursuit to mirror MicroStrategy’s approach. As of June 20, MicroStrategy holds a significant amount of Bitcoin, totaling 226,331 BTC worth $15.24 billion.

Metaplanet’s strategic investment decisions and focus on Bitcoin showcase their confidence in the digital asset as a long-term investment opportunity. With their recent acquisitions and strategic hires, the company is positioning itself as a key player in the evolving crypto landscape.