Here is how much BTC Metaplanet has after the last purchase

Metaplanet announced to make another major investment in bitcoin, buying approximately $3.3 million (¥500 million) of the cryptocurrency. This acquisition involved 57,103 bitcoins, with an average purchase price of ¥8,756,107 for one.

The move is part of the Japanese investment firm’s broader strategy to expand its bitcoin holdings. With the latest purchase, Metaplanet now has a total of 303,095 BTC acquired for $20 million (¥2.95 billion).

Earlier this month, Metaplanet Inc. announced a $6.8 million loan to increase its bitcoin holdings, reflecting the company’s strong confidence in the cryptocurrency’s future value. He obtained a loan of 1 billion yen at an annual interest rate of 0.1%. Almost the entire amount will go towards acquiring additional bitcoins.

Metaplanet stated that its strategy is to hold BTC for the long term, although any bitcoin used for operational purposes will appear as a current asset on its balance sheet.

On July 25, at the Bitcoin Conference in Nashville, executives from Metaplanet and Semler Scientific praised MicroStrategy’s strategy.

Simon Gerovich, CEO of Metaplanet, even revealed that his company was starting to show traits of the “zombie” company before making a strategic pivot to bitcoin. He emphasized that BTC was recognized as the “ultimate monetary asset” and would be a valuable addition to the company’s treasury.

Metaplanet has aggressively pursued bitcoin accumulation this year to boost its balance sheet, inspired by the strategy of business intelligence firm MicroStrategy. The company sees Bitcoin as a hedge against yen depreciation and a significant growth opportunity.

On Tuesday, Metaplanet shares ended the day down 5.8% to close at ¥1,121. However, since announcing its bitcoin-focused strategy in April, Metaplanet’s stock has risen sharply, although it has recently fallen from its peak. In the past week alone, the company’s stock is up nearly 70%.

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