Metaplanet Purchases Another 620 Bitcoins

Japanese investment firm Metaplanet has made its largest Bitcoin purchase yet, acquiring nearly 620 BTC as the cryptocurrency’s price has dropped below $100,000.

This purchase, announced on December 23, amounts to $60 million and is at an average price of around $96,000 per coin.

It is a significant achievement for Metaplanet, nearly quadrupling its previous record purchase of 159.7 BTC in October. Often referred to as “Asia’s MicroStrategy,” the Tokyo-based company now possesses a total of 1,762 BTC, with a combined value of approximately $168 million and an average purchase price of $75,600.

In the last quarter, Metaplanet saw a significant increase in its BTC yield, reaching 310% compared to the 41.7% yield in the previous quarter. The company considers its Bitcoin acquisition strategy to be a crucial driver of growth for its shareholders.

In the future, the company aims to expand its BTC operations into a dedicated business line, incorporating loans, equity, and other financial instruments to support its BTC strategy.