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Japan-based Metaplanet made another $6.7 million Bitcoin purchase, bringing its total Bitcoin holdings to over $40 million. The company, which is traded on the Tokyo Stock Exchange, added 108.7 Bitcoin to its portfolio with this purchase, reaching a total of 639.5 Bitcoin. At current market prices, these assets are worth about $40.6 million.
Metaplanet Inc. stands out with this strategic move as it continues its positive expectations for the future of Bitcoin. The company purchased 108.7 Bitcoins at an average price of $61,880, while the average cost for its entire Bitcoin portfolio was $62,789.
The company adopted Bitcoin as a strategic treasury reserve in May and has been aggressively buying Bitcoin ever since. Last week, Metaplanet bought another 107.9 Bitcoins worth $6.7 million, while also selling Bitcoin options, generating an additional $1.52 million in revenue.
Following these developments, Metaplanet’s shares rose 11% to 1,017 yen on Monday. On the same day, the Nikkei 225, one of Japan’s leading stock market indices, also rose 2.2%.
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