Metaplanet Stock Soars 21% After Major Bitcoin Purchase

sevval22/07/20241 Mins read291

Metaplanet Stock Soars 21% After Major Bitcoin Purchase

Metaplanet Stock ¥1 Billion Bitcoin Strategy, Sees Stock Price Surge

Metaplanet Stock– Japanese investment firm Metaplanet Inc. experienced a significant rise in its stock price, surging 21% during morning trading on Monday. This boost came after the firm disclosed its latest bitcoin purchase.

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Latest Bitcoin Acquisition

The Tokyo-listed company announced it had acquired an additional 20.381 BTC, equivalent to approximately 200 million yen ($1.27 million). This purchase brings Metaplanet’s total bitcoin holdings to 245.992 BTC.

Completion of Acquisition Plan

With this latest acquisition, Metaplanet has completed its initial plan to purchase 1 billion yen worth of bitcoin, as announced on June 24. This strategic move underscores the firm’s commitment to bitcoin as a key part of its investment strategy.

Strategic Treasury Reserve

Back in May, Metaplanet revealed its decision to adopt bitcoin as a strategic treasury reserve asset. The firm cited sustained economic pressures in Japan, including high government debt levels, prolonged periods of negative real interest rates, and a weak yen, as reasons for this strategic shift.

Regular Bitcoin Acquisitions

Over the past few months, Metaplanet has made several bitcoin purchases. According to data from Bitcointreasuries.net, the company previously bought bitcoin on April 23, May 10, June 11, July 1, July 8, and July 16.

Average Purchase Price

The firm reported that the average purchase price of its bitcoin holdings was 9.96 million yen (about $63,250) per bitcoin. This strategic investment approach highlights Metaplanet’s confidence in the long-term value of bitcoin.

FAQs

What caused Metaplanet’s stock price to surge by 21%?

Metaplanet’s stock price surged by 21% after the company disclosed that it had purchased an additional 20.381 BTC, approximately valued at 200 million yen ($1.27 million). This announcement boosted investor confidence, reflecting positively on the company’s stock.

How much bitcoin does Metaplanet currently hold?

After the latest purchase, Metaplanet holds a total of 245.992 BTC. This recent acquisition completes their initial plan to purchase 1 billion yen worth of bitcoin.

What was the average purchase price of Metaplanet’s bitcoin holdings?

The average purchase price of all Metaplanet’s bitcoin holdings is 9.96 million yen (about $63,250) per bitcoin.

For the latest in crypto updates, keep tabs on Crypto Data Space.

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.