Renowned Japanese investment company Metaplanet paid 619.7 BTC for about $60 million. The news followed Bitcoin’s declining value below $100,000, providing the company with a calculated chance to increase its ownership.
This purchase quadruples Metaplanet’s previous record purchase of 159.7 BTC, significantly surpassing its previous purchases. Right now, the company has 1,762 Bitcoin, valued at about $168 million. Currently, Metaplanet ranks among the largest Bitcoin holders among publicly traded companies, with an average purchase price of $75,600 per Bitcoin.
The present purchase emphasizes the company’s plan to rely mostly on Bitcoin as a strategic asset for treasury activities. Between October and December, Metaplanet reported a notable rise in its BTC yield, a performance indicator that evaluates the expansion of its Bitcoin holdings. From 41.7% in the previous quarter, the yield rose during this period to more than 310%.
Metaplanet has high goals: to include Bitcoin in its main operations going forward. Investigating new ideas like loans, stocks, and convertible bonds, the corporation indicated intentions to set Bitcoin accumulation and management as a legitimate business line.
This calculated action aligns with Metaplanet’s ongoing efforts to generate additional funds for further Bitcoin purchases. Starting a stock purchase campaign in November, the corporation raised around $62 million to increase its Bitcoin treasury.
Metaplanet is positive about Bitcoin’s long-term possibilities even with current market volatility. Its dedication to cryptocurrencies helps it to be a major participant in the sector as it reflects a forward-looking attitude in a changing financial environment.
