Metaplanet Expands Bitcoin Holdings with $6.7M Purchase

🚀 Stay Ahead with AltcoinDaily.co! 🌐

Japanese investment firm Metaplanet Inc. has again increased its Bitcoin reserves, purchasing an additional 108.786 BTC for $6.7 million (1 billion yen). The Tokyo-listed company announced this acquisition on October 7, bringing its total Bitcoin holdings to 639.503 BTC, worth about $40.6 million based on current market prices.

The latest purchase reflects Metaplanet’s continued confidence in Bitcoin as a key part of its strategic treasury reserve asset plan.

The firm disclosed that it bought the newly acquired Bitcoin at an average price of 9.19 million yen ($61,880) per BTC. Furthermore, the total average price for all its Bitcoin purchases stands at 9.32 million yen ($62,789) per Bitcoin. The move follows Metaplanet’s earlier announcement in May that it had begun adopting Bitcoin as a core part of its treasury strategy.

🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰

Leveraging Bitcoin Options to Boost Holdings

Metaplanet has been actively increasing its Bitcoin holdings in recent months, including a similar purchase last week when it acquired 107.913 BTC for $6.7 million. The firm has also taken an innovative approach to further boost its crypto assets.

Last week, Metaplanet reported earning 23.972 BTC, roughly $1.52 million, by selling Bitcoin options and collecting premiums. This strategy has allowed the company to enhance its position in the market while maintaining a long-term outlook on Bitcoin’s growth potential.

Metaplanet’s stock reacted positively to the latest Bitcoin purchase, surging 11% to 1,017 yen in Monday’s trading session. The broader market was also upbeat, with the Nikkei 225 index climbing 2.2% as of the afternoon session.

🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀

Rising Among Corporate Bitcoin Holders

While Metaplanet continues its aggressive accumulation of Bitcoin, it remains behind corporate giants like Michael Saylor-led MicroStrategy, which holds the title of the largest corporate Bitcoin holder with 252,220 BTC.

Marathon Digital follows with 26,842 BTC. Nevertheless, Metaplanet’s increasing commitment to Bitcoin highlights a growing trend among institutions, as more companies embrace the digital asset as part of their financial strategy.

Bitcoin, meanwhile, has seen a 2.84% price increase over the past 24 hours, trading at $63,594 at the time of writing, recovering from a dip near $60,000 last week.