Metaplanet Expands Bitcoin Holdings with New $2 Million Purchase
Japanese investment firm Metaplanet has once again increased its Bitcoin holdings, buying an additional ¥300 million (approximately $2 million) worth of Bitcoin. This acquisition, disclosed on September 10, involved 38.464 BTC at an average price of ¥7.8 million ($54,517) each. With this latest purchase, Metaplanet’s total Bitcoin reserves now stand at 398.832 BTC. Dylan LeClair , Metaplanet’s Director of Bitcoin Strategy , highlighted the firm’s proactive stance in a tweet: “Thankful for this price action. Have some capital to deploy,” referencing Bitcoin’s recent price drop below $54,000. Thankful for this price action. Have some capital to deploy. — Dylan LeClair 🟠(@DylanLeClair_) September 8, 2024 Strategic Purchasing and Market Reactions Metaplanet’s recent purchase is part of its ongoing strategy to accumulate Bitcoin, a trend that has been evident since the firm first pivoted to a Bitcoin-centric investment approach in April 2024. This strat...