Metaplanet has announced its acquisition of 103 bitcoins for $11.7 million, marking a significant step in their cryptocurrency accumulation strategy.
Details of Metaplanet’s Latest Bitcoin Purchase
The recent purchase of 103 bitcoins was made at an average price of $113,491 per coin, increasing the company's total reserves to 18,991 bitcoins. Company President Simon Gerovich stated that the company has invested a total of $1.95 billion with an average acquisition cost of $102,712.
FTSE Update for Metaplanet's Shares
Metaplanet has been included in the FTSE Japan Index and upgraded from small to medium scale, which marks an important step towards becoming a leader in Bitcoin reserves in Japan. Gerovich indicated that institutional investor interest is growing following this update.
Market Activity of Bitcoin
In the market, Bitcoin has shown price declines, trading at $112,468 with a 2.11% drop over the last 24 hours. Despite this, Metaplanet's shares in Japan rose by 3.5% as of midday, despite an overall decline of 26.9% over the past month.
In conclusion, Metaplanet's active investments in Bitcoin and its new update in the FTSE index indicate a growing interest in the company, despite current fluctuations in cryptocurrency market prices.
