Despite the downward movement of the digital asset, Tokyo-traded public corporation acquired another 20 BTC worth approximately $1.2 million. The firm now holds over 161 bitcoins.
Metaplanet, a Tokyo-traded public corporation, has announced an additional acquisition of 20 BTC, valued at $1.2 million, which brings its total corporate treasury holdings to over 161 bitcoins.
According to the statement on its website, the firm announced that it purchased 200 million yen ($1.2 million) worth of bitcoin, increasing its total holdings to 161.3 BTC. The company also posted about the purchase on its social media platform X account shortly after the Tokyo Stock Exchange closed.
A week ago, the company announced plans to increase its Bitcoin holdings by purchasing an additional $6 million worth of BTC. It already owned $9 million of the digital asset at that time. According to the Metaplanet website, the primary focus on the crypto asset was driven by changes in the investment environment resulting from the COVID-19 pandemic.
Metaplanet’s BTC Accumulations
On May 13, 2024, the public corporation announced a shift in its treasury management plan by adopting bitcoin as its primary reserve asset. Metaplanet noted that the firm recognizes the current challenges and opportunities in the financial landscape.
In addition, on April 10, 2024, Metaplanet revealed its decision to allocate a staggering 1 billion yen ($659 million) in Bitcoin to its corporate treasury. At the time, the company witnessed its share price soar by approximately 90%.
The firm mentioned that its transition to Bitcoin is a significant milestone in its mission to lead the digital finance era and positions Metaplanet as a pioneer in adopting digital assets in Japan.
MicroStrategy Secures Huge Bag
Similarly, MicroStrategy, led by Michael Saylor, is known for acquiring substantial amounts of BTC. Despite the recent downtrend in its price, the company invested $7.8 million in acquiring bitcoins in April.
On June 21, 2024, the firm’s CEO, Saylor, announced on the X platform that the company purchased 11,931 BTC for $786 million at approximately $65,883 per coin.
Before the purchase, Saylor disclosed that the company planned to sell $500 million worth of convertible notes to raise funds for acquiring bitcoin. A few days later, the company increased the amount to $700 million. In a press release, MicroStrategy announced the completion of $800 million worth of convertible notes due in 2032.
