Metaplanet, a publicly-listed investment and consulting firm in Japan, continues to bolster its Bitcoin holdings despite recent price drops, investing an additional $2.5 million in the cryptocurrency.
On July 7, Metaplanet announced on social media platform X that it had purchased 42,466 bitcoins for 400 million Japanese yen ($2.5 million).
Following this latest acquisition, Metaplanet’s total Bitcoin holdings now stand at 203,734 BTC, bought at an average price of around 10 million yen ($62,000) per coin. This average purchase price is about 7% higher than Bitcoin’s current market price.
Metaplanet’s Bitcoin Strategy
Metaplanet first adopted Bitcoin as a treasury asset in April 2024, marking a significant move in its investment strategy. The company made its initial Bitcoin purchase for $6.5 million, signaling a strong commitment to the cryptocurrency.
The decision to invest heavily in Bitcoin was influenced by notable industry figures such as Mark Yusko, founder of Morgan Creek Capital, and Jack Liu, a founding member of Ordiswap, as well as companies like Sora Ventures and UTXO Management.
Summary Review: Metaplanet’s continued investment in Bitcoin, despite market volatility, underscores its confidence in the long-term value and potential of the cryptocurrency. The firm’s strategic move to incorporate Bitcoin into its treasury assets highlights a growing trend among institutional investors recognizing the importance of digital assets in their portfolios.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
