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Japanese bitcoin treasury firm Metaplanet has strengthened its crypto portfolio with the acquisition of an additional 518 BTC, valued at approximately $61.4 million. The Tokyo-listed company revealed Tuesday that the latest purchase was made at an average price of $118,519 per bitcoin, signaling its continued confidence in the world’s leading cryptocurrency.
CEO Simon Gerovich confirmed that the buy increased Metaplanet’s total bitcoin reserves to 18,113 BTC, acquired at a cumulative cost of $1.85 billion. The company’s average purchase price across all holdings now stands at $101,911 per bitcoin, underscoring its long-term investment approach despite market volatility.
This latest move comes shortly after Metaplanet announced plans to raise up to 555 billion yen ($3.7 billion) through the issuance of perpetual preferred shares. The capital will be used to further expand its bitcoin treasury, aligning with the company’s strategy to cement its position as a major institutional holder in the global cryptocurrency market.