Metaplanet’s Bitcoin Holdings Surpass 500 BTC

The Japanese public company Metaplanet acquired an additional 107.913 BTC for 1 billion yen ($6.9 million).

The average price of the transaction was 9.26 million yen ($64,168) per bitcoin. The firm’s total coin holdings have reached 506.745 BTC ($32.2 million). They have spent 4.75 billion yen at an average cost of 9.37 million yen ($64,931).

The company’s shares have risen by 1.72% in the past day.

Metaplanet has been actively investing in the leading cryptocurrency over the past few months. In September, its reserves approached 400 BTC.

In August, the CEO of the Japanese firm, Simon Gerovich, advocated for “always accumulating bitcoin.” Metaplanet utilizes borrowed capital for its investments.

Back in April, the company announced the transfer of funds into digital gold. In a letter to investors, it explained the decision was due to the persistent weakening of the yen as a result of negative interest rate policies.