Crypto investment company, Metaplanet, purchases $54 million worth of Bitcoin for their reserves
In a significant move, Japanese investment firm Metaplanet has consolidated its position as one of the leading corporate holders of Bitcoin. The company announced the acquisition of 463 Bitcoin (BTC) for a total of $53.7 million, with an average price of $115,895 per BTC.
This latest purchase has boosted Metaplanet's Bitcoin holdings to approximately 17,595 BTC, translating to a total value of approximately $1.78 billion. The average cost of each Bitcoin acquired by Metaplanet is $101,422.
The funds raised from this purchase will be used for future Bitcoin acquisitions, as Metaplanet continues to expand its digital asset portfolio. In addition to this, the firm has announced plans to raise up to 555 billion yen ($3.7 billion) through the issuance of perpetual preferred shares.
Eric Trump, a key advisor and leading advocate for Metaplanet's global digital asset expansion, is involved with the company. However, the founder and CEO of Metaplanet remains unnamed in the search results.
With this strategic move, Metaplanet continues to demonstrate its commitment to the Bitcoin market, further solidifying its position as a major player in the digital asset industry. As the market continues to evolve, it will be interesting to see how Metaplanet's investments in Bitcoin shape its future growth.
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