Metaplanet, a Bitcoin investment firm, continues to expand its assets, announcing the purchase of 518 bitcoins worth $61.4 million.
New Acquisitions by Metaplanet
Metaplanet, based in Japan, announced the purchase of 518 bitcoins for approximately $61.4 million. The average purchase price amounted to $118,519 per bitcoin.
Company Strategy
According to CEO Simon Gerovich, these new acquisitions increased the total amount of bitcoins held by the company to 18,113 BTC. The overall value of the company’s assets stands at $1.85 billion, with an average unit price of $101,911.
Current Market Situation of Bitcoin
At the time of publication, Bitcoin is trading at $118,883, down 2.4% in the last 24 hours but up 4% for the week. Metaplanet shares were down 1.6% at midday Tuesday but have risen 183% year-to-date.
Future investments by Metaplanet may strengthen its position in the Bitcoin market and continue the growth of its assets.
