Asia’s MicroStrategy, Metaplanet Buys Additional $1.2 Million Worth of Bitcoin, Stock Soars 25.8%

QUICK BITE

• Metaplanet bought $1.2 million worth of Bitcoin, now holding 225.611 BTC. Their stock jumped 25.8% following the news.
• Earlier this month, Metaplanet purchased 42.47 BTC for $2.3 million, continuing its strategy to hedge against the weakening yen.

Japanese investment firm, often compared to MicroStrategy, Metaplanet bought another $1.2 million (200 million Japanese Yen) worth of Bitcoin.

According to the official statement, Metaplanet bought 21.877 Bitcoins at an average price of 9,142,021 yen each. This means the company now holds a total of 225.611 Bitcoins, with an average purchase price of 9,972,933 yen per Bitcoin.

The market reacted well to the news, with Metaplanet’s stock price rising 25.8% on Tuesday morning after the announcement. 

Furthermore, earlier this month, Metaplanet acquired 42.47 BTC, valued at approximately 400 million Japanese Yen (around $2.3 million) despite a drop in Bitcoin prices. 

Metaplanet’s Bitcoin strategy