Japan’s first Bitcoin treasury firm, MetaPlanet, has made another significant purchase. The company, known for its aggressive Bitcoin acquisitions, has acquired 136 Bitcoin (BTC), taking its total holdings to 20,136 BTC, worth approximately $2.24 billion.
Metaplanet shared this update via a post on X today along with an official announcement document. According to the official announcement, the average purchase price for the latest acquisition was 16,554,135 JPY per coin.
The firm’s continuous acquisitions of Bitcoin has earned it the title of ‘MicroStrategy of Japan.’ With this purchase, the company also continues to retain its position as the sixth largest corporate holder of Bitcoin.
Metaplanet Stock Tumbles
Despite its recent Bitcoin acquisitions, Metaplanet’s stock fell nearly 4% in Tokyo on Monday, adding to a drop of almost 20% over the past week. The price of shares in the hotelier-turned-Bitcoin treasury company was close to a four-month low.
Metaplanet’s shares have been falling for a long time, just like Bitcoin’s price, which fell after short-term traders sold their holdings and book profit as BTC price hit record highs in August. At the time of publishing, Bitcoin was trading near $111,000 according to CoinMarketCap data.
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