The corporation issued a press release announcing the completion of the acquisition of Bitcoins valued at 1 billion yen.
Metaplanet, a Japanese investment firm, announced in a press release on Monday that it has reached its investment objective of 1 billion yen by adding an additional 20.38 Bitcoin to its BTC treasury.
In late June, the organization disclosed its intention to allocate 1 billion yen to Bitcoin (BTC), which is equivalent to approximately $6.4 million at the time of publication.
“In accordance with our June 24, 2024 announcement concerning the acquisition of Bitcoins valued at 1 billion yen, we are pleased to inform you that we have acquired an additional 200 million yen in Bitcoins, as detailed below. With this acquisition, we have accomplished the acquisition of Bitcoins valued at one billion yen.”
The Tokyo Stock Exchange’s 3550 ticker-listed Metaplanet stock concluded the day at 173 yen, representing a 19% increase from its previous close. The Japanese investment firm’s shares were trading at 195 yen earlier in the day, representing a 34% increase from their closing price on Friday.
The announcement states that the company added 20.381 BTC to its treasuries at an average price of 9,813,061 yen per Bitcoin, resulting in a total expenditure of 200 million yen, which is equivalent to under $1.3 million as of press time. The company acquired 104.919 BTC at an average price of 9,531,162 yen per Bitcoin, or just under $61,000, as a result of its 1 billion yen purchase.
As of the time of publication, the company’s total Bitcoin holdings are 245.992 BTC, which is equivalent to $16.56 million. Metaplanet acquired $1.2 million of Bitcoin less than a week ago, following its acquisition of $6 million at the beginning of the month, according to Decrypt.
A spokesperson for Metaplanet informed Decrypt that the company is committed to following in the footsteps of MicroStrategy, the world’s largest corporate Bitcoin holder. MicroStrategy held a total of 226,331 BTC worth $15.24 billion as of press time, according to data compiled by BitcoinTreasuries.
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