Japanese company Metaplanet Expands investments in Bitcoin

Japanese investment company Metaplanet has made a significant cryptocurrency purchase, acquiring 57.27 bitcoins for $3.42 million. The average purchase price was about $59,700 per bitcoin. This transaction, financed with credit, completed the company’s bitcoin acquisition cycle for a total of 1 billion yen (approximately $6.8 million).

The news of the cryptocurrency acquisition had a positive impact on Metaplanet’s market value. In the 24 hours following the announcement of the deal, the company’s stock rose by 11%, demonstrating investors’ positive reaction to the company’s strategy.

Just a week ago, Metaplanet had already purchased 57.10 BTC at an average price of about $59,237 per coin. After the latest transaction, Metaplanet’s total bitcoin balance reached 360.36 BTC, which at the time of publication is valued at more than $23 million.

Metaplanet’s Strategy and Forecasts

Metaplanet representatives explained their investment strategy, stating that bitcoin is recognized as the «gold standard» among digital currencies. The company expects further inflow of investments into bitcoin from large investment funds.

Metaplanet predicts an increase in the value of bitcoin as a tool to protect against inflation. The company attributes this to the weakening of fiat currencies and a decline in public trust in them.

Metaplanet’s investment strategy reflects the growing interest of institutional investors in bitcoin. The company demonstrates confidence in the long-term potential of cryptocurrency, despite market volatility. Metaplanet’s future actions may serve as an indicator of large investors’ sentiments towards digital assets.