Japanese company MetaPlanet continues to aggressively increase its Bitcoin holdings. According to recent data, it has acquired 136 BTC, significantly strengthening its market position.
Latest Acquisitions by MetaPlanet
MetaPlanet, Japan's first firm specializing in Bitcoin acquisition, announced the purchase of an additional 136 BTC. This brings its total holdings to 20,136 BTC, equivalent to approximately $2.24 billion. This was announced via an official statement on X. The average purchase price was 16,554,135 JPY per coin.
Stock Decline of the Company
Despite aggressive Bitcoin purchases, MetaPlanet's stock fell nearly 4% in Tokyo on Monday, adding to a nearly 20% drop over the past week. As of the time of publication, the company's stock price has hit a four-month low.
Current State of the Bitcoin Market
MetaPlanet's stocks have been declining in tandem with Bitcoin's price, which fell after short-term traders sold their holdings following record highs in August. According to CoinMarketCap, Bitcoin's price at the time of publication is around $111,000.
By continuing its Bitcoin acquisitions, MetaPlanet strengthens its market position; however, the current stock situation raises concerns among investors.
