Tokyo-based company Metaplanet is continuing its active investment in Bitcoin, announcing a recent purchase worth $92.5 million.
Purchase of Bitcoin for $92.5 Million
On July 28, Metaplanet announced that it had purchased 780 Bitcoin (BTC) for a total of $92.5 million. This purchase demonstrates the company’s confidence in Bitcoin's future.
Metaplanet: One of the Largest Bitcoin Holders
According to the announcement, the average purchase price was $118,622 per Bitcoin, bringing the company's total holdings to 17,132 BTC, valued at around $2 billion. Metaplanet now ranks as the seventh-largest public corporate holder of Bitcoin globally.
Company Strategy and Results
Metaplanet aims to accumulate 210,000 Bitcoins by 2027, which would give it control of 1% of the total supply. The company reported a revenue of nearly 1.1 billion yen in the second quarter, a 42.4% increase compared to the same period last year.
This active investment and strategy for increasing holdings might strengthen Metaplanet's position in the cryptocurrency market.
