Japanese investment firm Metaplanet has bought an additional 780 Bitcoin, which reinforces its position as a single company that is not the US among the top 10 Bitcoin holders.
The company announced taking on a Monday announcement. Following the latest bitcoin (Btc) Purchase, metaplanet handling reaches a total of 17,132 BTCs, with an average purchase price to the newly added Bitcoin of 17,520,454 Japanese yen per coin (around $ 118,145) for a total cost of nearly $ 92 million.
Metaplanet now has spent a total of $ 1.7 billion in Bitcoin on an average cost basis of approximately $ 99,640 per coin.
As with the time of writing, the Nansen data indicated Bitcoin trade at $ 118,171, just above the latest metaplanet purchase price. In the past 24 hours, the cost of bitcoin has increased by 0.75%.
The news follows recent reports that the metaplanet plan to eventually use Bitcoin reserves to obtain cash -forming businesses, Possibly including a digital bank in Japan.
Related: Metaplanet approach vs: Basic Differences in their approach to Bitcoin handling
Metaplanet is combined as top non-US bitcoin treasury
In this latest acquisition, the metaplanet strengthens its position as the leading bitcoin treasury that is not based in the United States. According to bitcointreasuries.net DataThe firm is the only non-US Bitcoin Treasury among the 10 largest.
Being the seventh largest Bitcoin treasury in the world, Metaplanet stands behind the Trump Media & Technology Group (the firm behind Social Social) with 18,430 BTC, and above Michael Novogratz’s Galaxy Digital Holdings along with 12,830 BTC. However, the current 17,132 of the metaplanet is a big shout from the first and leading approach to the Bitcoin Corporate Treasury (formerly microstrategy) with 607,770 BTC worth more than $ 72 billion.
Related: Metaplanet exceeds Cleanspark with $ 108m Bitcoin Buy
Metaplanet’s success story
Bitcoin’s bold approach to metaplanet is in conjunction with significant stock prices. Company shares moved 517% in the last year and 246% year-to-date. Like Monday, the stock trades at $ 8.36, up to 5% during the day, according to Google Finance.
During a recent -only interview In Forbes Japan, Simon Gerovich, President and CEO of Metaplanet, said he did not expect rapid growth.
“In just one year, we became the country’s leading stock, with a number of trade in the record and a ¥ 1 trillion market cap,” he said.
Gerovich also featured that the company not only mimics the approach, but rather “developing a Japan-Known-native” model “which is” consistent with local regulation, taxation, and capital markets. ” He added that the firm offers exposure to Bitcoin following the country’s tax saving accounts.
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