Metaplanet acquires more Bitcoin as market rebounds to $63k

Fast Take

On July 1, Metaplanet acquired an extra 20.195 Bitcoin, bringing its complete holdings to 161.26 Bitcoin. The corporate spent 200 million yen ($1.24 million) on its newest buy, with a median worth of 9,903,441 yen ($61,506) per Bitcoin.

The acquisition is a part of Metaplanet’s long-term plan to extend its Bitcoin stack. On June 24, the corporate introduced plans to concern 1 billion yen price of bonds (or round $6.26 million) to assist extra Bitcoin acquisitions.

Metaplanet BTC Purchase: (Source: @Metaplanet_JP) — Screengrab displaying Metaplanet’s announcement on July 1, 2024 (Supply: @Metaplanet_JP)

The corporate’s common buy worth for Bitcoin now stands at 10,231,438 yen ($63,543), with a complete funding of 1.65 billion yen. This strategic transfer comes as Bitcoin surpasses $63,000, boosting Metaplanet’s share worth by 1% at the moment and marking a 525% improve yr thus far.

In the meantime, the Japanese yen continues to weaken, now buying and selling at 161 in opposition to the US greenback.

BTCUSD vs USDJPY: (Source: TradingView) — Graph displaying the BTCUSD and USDJPY from Jan. 1 to July 1, 2024 (Supply: TradingView)

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