Japanese investment firm Metaplanet Inc. has acquired an additional 107.913 Bitcoin, valued at approximately 1 billion yen ($6.9 million), as part of its continued strategy to expand its cryptocurrency holdings.
The Tokyo-listed company revealed in its newest announcement that the purchase was made at an average price of 9.26 million yen ($64,168) per bitcoin, bringing its total bitcoin holdings to 506.745 BTC, worth around $32.2 million at current market prices.
Notably, this comes on the heels of the company’s recent move in August to secure a 1 billion yen ($6.8 million) loan at a low annual interest rate of 0.1%. The loan, set for repayment within six months, is earmarked for additional Bitcoin purchases. At the time, Metaplanet also announced plans to initiate a ¥10.08 billion ($69.44 million) stock acquisition rights allotment. The funds raised, approximately 8.5 billion yen ($58.76 million), will be used for further Bitcoin acquisitions, cementing the firm’s position as a major corporate Bitcoin holder.
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In its latest disclosure, Metaplanet stated that it has invested a total of 4.75 billion yen in Bitcoin, with an average acquisition cost of 9.37 million yen ($64,931) per coin. This move underscores the firm’s growing commitment to integrating Bitcoin into its corporate strategy.
Meanwhile, Metaplanet has also stated that it is exploring new tools to boost its financial agility as its treasury expands.
To further bolster its Bitcoin operations, Metaplanet has partnered with SBI Holdings’ crypto division, SBI VC Trade, to improve its Bitcoin trading, storage, and management. This partnership, announced on September 2, 2024, grants Metaplanet access to compliant custody services optimized for tax efficiency, and the ability to use Bitcoin as collateral for financing.
In a further push to enhance transparency, Metaplanet has also teamed up with Hoseki, a global leader in Bitcoin verification solutions. This partnership aims to boost trust and transparency in Metaplanet’s Bitcoin holdings, allowing users to independently verify the company’s reserves using Hoseki’s advanced verification technology.
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