This Japanese company added another million dollars in Bitcoin to its reserves – DiarioBitcoin
By Hannah Perez
Metaplanet, which is listed on the Tokyo Stock Exchange, bought more Bitcoin and now holds about 161 BTC worth $10 million in its treasury.
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- Japan-based Metaplanet added $1.5 million worth of Bitcoin to its reserves
- The public company bought Bitcoin last month and is accumulating as part of a new strategy
- Now owns 161.3 BTC worth approximately USD $10 million
Metaplaneta Japan-based investment company, is confident in its bet that Bitcoin.
After making a similar purchase last month, Metaplanet added again bitcoins to its reserves as part of a $6 million strategy to increase holdings of Bitcoin (BTC) in your treasury.
In a statement posted on its website, the Tokyo-based company said it acquired 200 million yen ($1.2 million) in bitcoinsbringing their total holdings to 161.3 BTC worth approximately $10 million today.
*Metaplanet additional purchases 20.20 $BTC* pic.twitter.com/4tCRWAc2an
— Metaplanet Inc. (@Metaplanet_JP) July 1, 2024
The company had already announced at the beginning of April a first investment in Bitcoin as part of a new strategy to adopt the world’s largest and oldest cryptocurrency as a main component of its treasury assets. Since then, Metaplanet has made three other investments, including the most recent.
A week ago, the Japanese company had already indicated that it planned further increase its bitcoin holdings by another USD $6 million, with the justification that its “Basic policy is to hold Bitcoin for the long term“. Funds for the purchase are being raised from a bond issue that took place last week.
The investment strategy in Bitcoin of Metaplanetwhich trades its shares on the Tokyo Stock Exchange, echoes MicroStrategyMichael Saylor’s enterprise software company that is known for its aggressive accumulation of Bitcoin.
MicroStrategy has been buying bitcoins since 2020 in an effort to move away from fiat cash reserves, and is currently positioned as the largest corporate whale with a stash of over 210,000 BTC. Others have followed the same steps, as is the case of the company in the health area, Semler Scientificwhich recently purchased Bitcoin.
Metaplanet stands out for being the first company listed on the Tokyo Stock Exchange that invests in Bitcoin. Shares rose 1% after today’s announcement.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
