Japanese investment firm Metaplanet has continued its bitcoin accumulation strategy by purchasing an additional 135 BTC.
New Bitcoin Purchase
Metaplanet announced on Tuesday the acquisition of an additional 135 BTC at a cost of 1.9 billion yen ($12.9 million), averaging a price of 14.3 million yen ($95,951) per bitcoin. This increased its total holdings to 2,235 BTC, up from 1,761 BTC at the end of last year.
Accumulation Strategy
Metaplanet officially designated its bitcoin operations as a core business line in December after announcing its accumulation strategy in April. The company aims to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
Stock Price Dynamics of Metaplanet
Metaplanet's stock was down 1.3% as of the lunch break on Tuesday in Japan. Despite this, the stock price has risen 67.5% since the start of the year and increased 233.7% over the past year as per Google Finance.
The bitcoin purchase by Metaplanet indicates their long-term intentions in the cryptocurrency sector despite market fluctuations.
