Metaplanet, a publicly traded Japanese investment advisory firm, has purchased 20.2 Bitcoin (BTC) to increase its BTC holdings in its treasury.
Metaplanet Buys Another $1.2 Million in Bitcoin
In a statement on its website, the Tokyo-based company announced that it had acquired 200 million yen ($1.2 million) in Bitcoin, increase total assets 161.3 BTC.
*Metaplanet purchases additional 20.20 $BTC* pic.twitter.com/4tCRWAc2an
— Metaplanet Inc. (@Metaplanet_JP) July 1, 2024
The company posted a statement about the purchase on its account shortly after trading on the Tokyo Stock Exchange ended.
A week ago, the company said it plans to increase its Bitcoin holdings by buying more $6 million BTC. According to the website Metaplanet, the focus on Bitcoin is driven by changes in the investment landscape caused by the Covid pandemic.
Metaplanet shares rose 1% ahead of the announcement.
Metaplanet Wants to Sell 1 Billion Yen Bonds to Buy Bitcoin
