Bitcoin News: Japan's Metaplanet Buys Another 1000 BTC
Metaplanet, a Tokyo-listed investment firm, has acquired an additional 1,004 bitcoin (BTC) for approximately $104.3 million, increasing its total holdings to 7,800 BTC. This latest purchase was made at an average price of $103,873 per bitcoin. The company's average cost for all its bitcoin acquisitions is $91,300 per BTC, giving its total holdings a current valuation of over $806 million. Metaplanet aims to reach a total of 10,000 BTC by the end of 2025, funding these acquisitions through a series of bond sales, including its most recent issuance worth $15 million. As bitcoin prices remain close to all-time highs, this move reflects Metaplanet's commitment to a treasury strategy that has drawn inspiration from other prominent firms. The crypto market has seen positive sentiment recently, contributing to the strategic decisions made by the company.
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