Japanese public company Metaplanet has announced the acquisition of an additional 23.351 bitcoin for a price of 250 million yen ($1.6 million). Metaplanet’s total bitcoin holdings have now reached 141.0727 bitcoin bought at an average price of 10,278,391 yen ($65,000).
*Metaplanet purchases additional 23.35 $BTC* pic.twitter.com/Wj5AZjVNvq
— Metaplanet Inc. (@Metaplanet_JP) June 11, 2024
Metaplanet is joining the bitcoin strategy employed by the likes of Microstrategy, Semler Scientific, and DeFi Technologies. Putting bitcoin into a company treasury has demonstrated an effect of stock share price rising. Metaplanet stock is up approximately 10% after the announcement.
Will be interesting to see how many more companies employ such a simple strategy of buying bitcoin, and watching their company financials grow.
