Japanese company Metaplanet has acquired 103 Bitcoin for $11.6 million, increasing its total holdings to 18,991 BTC.
New Bitcoin Purchase
Metaplanet has completed the acquisition of 103 Bitcoin at an average price of $113,491 per BTC, enhancing its total reserves to 18,991 BTC. Following the announcement of the purchase, Metaplanet's stock rose over 4%, reaching 878 yen.
Metaplanet's Investment Returns
According to Bitcoin Treasuries data, Metaplanet is now the seventh largest public Bitcoin holder, with its investments yielding a return of 479.5%, significantly outperforming stock markets. With an average acquisition cost of $102,712 per BTC, the total value of its holdings is approximately $1.95 billion.
Outlook and Predictions
Some analysts suggest that Metaplanet may be regularly adding to its Bitcoin reserves. In this context, Eric Trump has predicted that the price of Bitcoin could reach $175,000 by the end of the year, adding further interest to corporate Bitcoin purchases.
Metaplanet's purchase highlights the company's confidence in the future of Bitcoin and its strategy to safeguard against economic uncertainty in Japan.
