Japanese company Metaplanet Inc., listed on the Tokyo Stock Exchange, has acquired additional bitcoins, highlighting its commitment to expanding its cryptocurrency assets.
Latest Bitcoin Acquisitions
Metaplanet Inc. announced the purchase of 107.913 bitcoins worth approximately 1 billion yen ($6.9 million). The average purchase price was 9.26 million yen ($64,168) per bitcoin, bringing the company's total holdings to 506.745 BTC, valued at about $32.2 million at current prices.
Previous Purchases and Strategy
Recently, in August, Metaplanet secured a 1 billion yen ($6.8 million) loan at a low-interest rate for bitcoin purchases, payable within six months. At that time, the company also planned a ¥10.08 billion ($69.44 million) stock acquisition to raise funds for further bitcoin purchases. In total, the company has invested 4.75 billion yen in bitcoin, with an average acquisition cost of 9.37 million yen ($64,931) per coin.
Partnerships and Future Plans
To enhance its bitcoin operations, Metaplanet has partnered with SBI Holdings’ crypto division, SBI VC Trade, ensuring secure custody and the ability to use bitcoin as collateral for financing. The company also collaborates with Hoseki to increase transparency in their bitcoin holdings, allowing users to independently verify the company's reserves.
These actions underscore Metaplanet Inc.'s growing commitment to integrating bitcoin into its corporate strategy and the company's efforts to increase financial agility.
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