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Japanese Investment Firm Metaplanet Buys More Bitcoin
Japanese investment firm Metaplanet has acquired an additional 21.877 Bitcoins at an average purchase price of 9,142,021 yen per Bitcoin, the company announced in a press release on July 16, 2024.
This latest acquisition brings Metaplanet’s total Bitcoin holdings to 225.611 BTC, with an average purchase price of 9,972,933 yen per BTC, and an aggregated amount invested in BTC of 2.25 billion yen.
The market responded positively to this news, with Metaplanet’s shares soaring by 10% to trade for Â¥102.00, according to Google Finance.
Why is Metaplanet Investing in Bitcoin?
In a statement, Metaplanet’s Director of Bitcoin Strategy, Dylan LeClair, explained that the company believes the investment in Bitcoin is the most valuable thing it can do for its shareholders.
Metaplanet aims to acquire additional Bitcoin through various options, including opportunities present in capital markets that it views as accretive.
What is Metaplanet’s Investment Strategy?
Metaplanet’s investment strategy is designed to explore various options for acquiring additional Bitcoin, including opportunities present in capital markets that the company views as accretive.
Is Metaplanet’s Investment Sustainable?
Metaplanet’s investment in Bitcoin is intended to be sustainable, with the company seeking to explore various options for acquiring additional Bitcoin through capital markets.
Conclusion
Metaplanet’s investment in Bitcoin is a strategic investment move, designed to be sustainable.
Metaplanet’s investment in Bitcoin is strategic investment move, designed to be sustainable.
