Metaplanet Expands Bitcoin Holdings with Acquisition of 218 BTC
Metaplanet Inc., a Japanese public company based in Tokyo, is continuing to invest in Bitcoin as part of its “strategic treasury reserve asset.” The company recently purchased an additional $1.26 million worth of Bitcoin, bringing its total holdings to over 200 BTC. This move comes as the price of Bitcoin surpassed $63,000, making it the largest cryptocurrency by market capitalization.
Metaplanet disclosed in a regulatory filing that it acquired 21.877 BTC for approximately $1.259 million, with an average cost of $57,623 per BTC. With this latest purchase, the company’s total Bitcoin reserves now exceed 225.6 BTC.
This recent acquisition follows Metaplanet’s previous purchase of over 40 BTC for around $2.4 million just a week ago. The company has also allocated over $6.2 million for Bitcoin through the issuance of ordinary bonds with an annual interest rate of 0.5%. These bonds are set to mature in 2025.
Metaplanet’s interest in Bitcoin started in late June, although the company already held BTC on its balance sheet before that. The decision to increase Bitcoin holdings was driven by Japan’s economic challenges, including high government debt, negative real interest rates, and a weak yen.
In a separate development, a survey conducted by global financial services group Nomura and Laser Digital revealed that over 500 investment managers in Japan are considering investing in cryptocurrencies. Additionally, half of the respondents expressed openness to using stablecoins for settlements and daily transactions.
In other news, Sony has made its first foray into the crypto exchange space by acquiring Amber Japan. This move reflects Sony’s growing interest in the cryptocurrency industry.
