Metaplanet is planning to buy 1 billion yen worth of Bitcoin, expecting to receive around 99.84 BTC if this transaction is made today. After adding this transaction to their current crypto vault, Metaplanet will own a total of 141.07 BTC. They began their Bitcoin buying strategy at the beginning of the year, buying 117 BTC in mid-May and continuing to buy more after that.
Metaplanet announced that it is adopting a “Bitcoin-first, Bitcoin-only approach” in response to sustained economic pressure in Japan. Their average purchase price was 10.28 million yen, or $65,365 per Bitcoin, according to holdings reported in early June.
Metaplanet’s Bitcoin buying strategy coupled with the spike in its stock price has led many to compare it to US-based MicroStrategy, a software company with the largest Bitcoin holdings.
Read more: ‘Rich Dad Poor Dad’ author waits to buy more Bitcoin
