After MicroStrategy, Japanese Giant Again Bought Bitcoin! - Coin Bulletin

Japanese investment company Metaplanet, not slowing down its Bitcoin (BTC) purchases, recently bought approximately 12.5 million dollars worth of BTC.

According to Metaplanet CEO Simon Gerovich, the company increased its Bitcoin portfolio by adding 150 BTC with its latest purchase, raising its total assets to 3,200 BTC. The latest purchase was made at an average price of $83,508 per BTC. Metaplanet announced that it has spent approximately $266.2 million in total to acquire 3,200 BTC, which is currently valued at $265.9 million.

Metaplanet, on Tuesday also provided funding of 2 billion yen approximately 13.3 million dollars through bond issuance to finance BTC purchases. Thus, the company raised the capital needed from investors to make further Bitcoin purchases.

Metaplanet drew attention by adopting a Bitcoin accumulation strategy in April 2024. The company's aggressive purchases since that date have set ambitious targets. The company aims to reach 10,000 BTC by the end of 2025 and a total of 21,000 BTC by the end of 2026. These figures indicate the company's long-term and strong view of Bitcoin as an investment asset.

On the other hand, Metaplanet's shares traded on the Tokyo Stock Exchange closed Tuesday down 0.49% to 4,030 yen. According to Yahoo Finance, the company's shares have shown a striking rise of 15.8% since the beginning of the year and 1,819% over the past year. On the same day, Japan's renowned Nikkei 225 index gained 1.2%