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Cryptocurrency News Articles

Japanese Investment Firm Metaplanet Drops $60M on Bitcoin, BTC Yield Soars 310%

Dec 23, 2024 at 05:00 pm

Japanese investment firm Metaplanet has ramped up its Bitcoin strategy with a record-breaking purchase of nearly 620 BTC.

Japanese Investment Firm Metaplanet Drops $60M on Bitcoin, BTC Yield Soars 310%

Japanese investment firm Metaplanet has disclosed a record-breaking purchase of nearly 620 Bitcoin (BTC) as part of its ongoing crypto strategy. This recent acquisition, valued at close to $60 million, adds to the company’s total Bitcoin reserves, now standing at 1,762 BTC.

Metaplanet has been steadily increasing its Bitcoin holdings since May, and this latest buy surpasses its previous October acquisition of 159.7 BTC by a considerable margin. With an average purchase price of $75,600 per coin, the firm’s total holdings are now valued at approximately $168 million, positioning it as one of the top Bitcoin-owning public companies globally.

The company’s strategy appears to be paying off, as it reported a 310% BTC yield between October and December, a sharp rise from the 41.7% yield recorded in the prior quarter. These gains reflect the firm’s focused approach to leveraging Bitcoin as a key asset in its portfolio, which it views as a cornerstone for shareholder value.

READ MORE:

MicroStrategy Sets Records with Bitcoin Buys Ahead of Nasdaq 100 Entry

Metaplanet’s Bitcoin-focused strategy has driven a 2,100% surge in its stock value this year, hitting record highs despite recent fluctuations.

News source:cryptodnes.bg

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