Metaplanet Acquires $1.2M in Bitcoin

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Bitcoin investment company Metaplanet has recently acquired another 21.88 Bitcoin, worth over $1.2 million (200 million Japanese Yen), during the recent bullish trend that has driven Bitcoin prices close to $65,000.

This purchase, disclosed in a statement on July 16, brings Metaplanet’s total Bitcoin holdings to 225.6 Bitcoin, which are now valued at $14.6 million.

The increase in Bitcoin’s value combined with a 4.4% price increase in the last 24 hours has resulted in a surge in Metaplanet’s share prices, which have risen by 25.8% to $0.74 (117 Japanese yen) on the Tokyo Stock Exchange on July 16, according to Google Finance data.

This investment is the second one made by Metaplanet this month, as it also acquired 42.46 Bitcoin on July 7 for $2.5 million (400 million Japanese yen) during a period of lower Bitcoin prices. Since announcing its Bitcoin investment strategy on April 9, 2024, Metaplanet’s stock price has increased almost six-fold. However, the firm’s return on its Bitcoin investment is currently only at 2.8%,