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Japanese Investment Giant Sees the Drop in Bitcoin as an Opportunity: Made Its Biggest Purchase
Japanese investment company Metaplanet attracted the attention of the crypto world by making the largest Bitcoin purchase in history. Please provide the text to be translated. The company purchased approximately 620 Bitcoins during a period when Bitcoin was trading below 100,000 dollars. Please provide the text to be translated. Metaplanet announced today that it purchased approximately $60 million worth of 619.7 Bitcoin. The purchase took place when Bitcoin was trading at $96,000. This move by the company is recorded as its biggest Bitcoin purchase to date, which is approximately four times larger than its 159.7 BTC purchase on October 28th. Please provide the text to be translated. According to Bitbo data, this latest move has increased Metaplanet's total Bitcoin reserves to 1,762 BTC (approximately $168 million). The company's average Bitcoin purchase price is calculated to be approximately $75,600. Due to this aggressive strategy, Metaplanet is now being referred to as the "MicroStrategy of Asia". Please provide the text to be translated.
Investment performance and current strategies
Please provide the text to be translated. Metaplanet announced that the Bitcoin Investment Return (BTC Yield) was 310% between October 1 and December 23. This rate significantly exceeds the 41.7% return in the previous quarter. The company uses BTC Yield to evaluate the performance of its Bitcoin buying strategy and states that this strategy aims to create value for shareholders. Please provide the text to be translated. On December 18th, the company announced that it expected to make its first operating profit since 2017. Metaplanet stated that it not only sees Bitcoin purchases as a treasury strategy, but also plans to turn it into a business.