Japanese Investment Giant Renews Confidence with Bitcoin: Receives Millions More Dollars - Coin Bulletin

Japanese investment company Metaplanet Inc. announced that it has purchased an additional 107,913 Bitcoins worth about 1 billion yen (6.9 million dollars). The company reaffirmed its confidence in Bitcoin, the world's largest cryptocurrency.

The company traded on the Tokyo Stock Exchange stated that it made its latest purchase at an average price of 9.26 million yen (64,168 dollars) per Bitcoin.

With this latest purchase, the company's total Bitcoin holdings reached 506,745 BTC, which is approximately $32.2 million at current prices. Metaplanet acquired all the Bitcoins it owns for a total of 4.75 billion yen, at an average price of 9.37 million yen ($64,931).

According to CoinGecko data, Bitcoin has lost approximately 1% in the last 24 hours, falling below $64,000.

They see Bitcoin as a reserve asset

In May, Metaplanet, which has accelerated Bitcoin purchases in recent months, stated that it adopted Bitcoin as a strategic treasury reserve asset. This strategy of the company demonstrates its confidence in investors and the crypto market.

By the way, MicroStrategy, led by Michael Saylor, maintains its position as the largest institutional Bitcoin holder with 252,220 BTC. It is followed by Marathon Digital with 26,200 BTC. According to BitcoinTreasuries data, Metaplanet's recent purchases have propelled the company to the top ranks among the largest institutional Bitcoin investors.