Metaplanet Buys 620 BTC

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Metaplanet, a company based in Japan that is publicly traded, has recently revealed that it has obtained 619.7 Bitcoin as part of its strategy to build a crypto treasury. They paid an average of 15,330,073 yen for each Bitcoin, with a total investment of 9.5 billion yen.

This acquisition has resulted in the company’s total Bitcoin holdings increasing to 1,761.98 BTC, with an average purchase price of 11,846,002 yen per Bitcoin. The documents show that Metaplanet has spent a total of 20.872 billion yen on Bitcoin purchases.

This latest purchase is the largest for the company yet and comes shortly after Metaplanet raised 5 billion yen (around $32 million) through the issuance of their 5th Series of Ordinary Bonds to EVO FUND.

The purpose of this issuance was specifically to purchase Bitcoin. These bonds, which will mature in June 2025, do not have any interest and allow for early redemption under specific conditions.