New Bitcoin purchase from Japanese company Metaplanet

Metaplanet, which first announced the purchase of Bitcoin to its company reserves in April, announced that it purchased 42 more BTC worth approximately $2.4 million. The number of Bitcoins held by the company increased to 203.

New Bitcoin purchase from Japanese company Metaplanet

Tokyo-based financial technology company Metaplanet made another Bitcoin purchase. The company bought 42 BTC, bringing its total to 203 Bitcoins.

With a $100 million market capitalization, Metaplanet, which is relatively much smaller than many giant companies, came at a time when Japan was going through significant financial difficulties.

As it is known, the Japanese yen has recently depreciated significantly against both the dollar and the euro. The yen hit a 38-year low against the dollar last week.

It is also noteworthy that the purchase comes at a time of declines in cryptocurrencies along with the difficulties in Japan. The German government and Mt. Gox sales had pushed Bitcoin below $55,000.

Increase in shares

After Metaplanet’s purchase announcement, the company’s shares increased by 1.2% and the price rose to $0.5.

MicroStrategy, the first company in the world to implement the Bitcoin buying strategy, is also the company holding the most BTC. The company, led by Michael Saylor, holds more than 226 thousand Bitcoins.

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