Metaplanet, a Tokyo-based investment advisory firm, recently announced the acquisition of an additional 20.195 bitcoins, valued at approximately $1.2 million.
This purchase at around $63,427 per bitcoin, increases the firm’s total holdings to 161.2677 BTC, now valued at over $10.1 million. This was made after the close of the Tokyo Stock Exchange on Monday to accumulate more bitcoins.
This investment follows a prior declaration on June 24 by Metaplanet’s board, which approved the use of capital raised through an upcoming bond issuance to acquire bitcoin worth 1 billion yen ($6.3 million). The firm, frequently described as ‘Asia’s MicroStrategy,’ is actively deploying a policy to diversify treasury securities given the high levels of government debt and negative real rates in Japan.
Metaplanet’s stock traded at 3350, saw an increase of 1%, continuing its positive trend with a gain of over 233% since it began purchasing bitcoin.
According to Abra, a digital asset prime services platform, there is increasing interest among non-crypto-native businesses, particularly in real estate, to utilize Bitcoin for their treasury or leverage it for financing business needs.
Also Read: Metaplanet Inc. to Purchase $6.3M Bitcoin via Bond Issuance
