Japanese investment firm Metaplanet doubles down on its Bitcoin accumulation strategy by acquiring a new batch of 156 BTC

input: Japanese investment firm Metaplanet has doubled down on its Bitcoin accumulation strategy by acquiring a new batch of 156 BTC. The firm unveiled this announcement

Japanese investment firm Metaplanet has continued its Bitcoin accumulation strategy by buying 156 BTC.

The firm announced the latest purchase via its X post. The firm took advantage of the market dip, which saw the price of Bitcoin drop to its lowest level in months.

Its latest purchase has placed the firm again on the list of top corporate Bitcoin buyers.

Best window to buy Bitcoin

Metaplanet chose a strategic period to make its latest Bitcoin purchase.

Within that period, the firm bought BTC when it dropped to its lowest level in months. Bitcoin (BTC) fell to $78,942 on Feb. 28.

According to the firm, the 156 Bitcoin units bought come at an average price of 12,952,147 yen per Bitcoin. This average price is an average of $86,779.3849 at the current exchange rate.

This marks the second purchase in February, after it added 269 BTC on Feb 17.

At the time of writing, the price of Bitcoin was trading at $92,682.99, up 7.75% in the past 24 hours. This implies that the latest Metaplanet purchase has resulted in a gain of approximately $$920,963.16.

*Metaplanet purchases additional 156 $BTC*

With the past week’s purchase, the company boasts of a total stash of 2,391 BTC, worth an average of $199.8 million.

Metaplanet mimicking Strategy

Buying the Bitcoin dip is not without precedent, as Michael Saylor’s Strategy is known to conduct related BTC acquisitions when prices are low.

As reported earlier by U.Today, in the past week, the business intelligence and software firm announced it bought over $2 billion worth of the coin after a successful debt issuance to finance the purchase.

Today, firms that are adopting a Bitcoin reserve strategy pioneered by Strategy go beyond Metaplanet. From mainstream banks like Susquehanna Investment Group to non-crypto firms like Semler Scientific, the list goes on and on.