Metaplanet Inc. (3350) bought another 1,009 bitcoin (BTC), bringing its total treasury to 20,000 BTC and overtaking Riot Platforms (RIOT) to become the corporation with the sixth-largest treasury holdings of the largest cryptocurrency.
The purchase, valued at roughly 16.5 billion yen ($112 million), demonstrates the Tokyo-based company’s commitment to positioning bitcoin as a core reserve asset. Its total bitcoin purchases now amount to 302.3 billion yen at an average cost of 15.1 million yen per BTC, according to a filing released Monday.
The pace of the firm’s bitcoin accumulation has made it Asia’s most prominent publicly traded adopter of the cryptocurrency. From July 1 to Sept. 1, the company achieved a BTC yield of 30.7%, while its multiple to net asset value (mNAV) sits just below 2.
Shares of Metaplanet fell 5.5% to 831 yen.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Ethereum price started a fresh increase above $3,250. ETH is now consolidating gains and might…
ETF inflows have finally turned positive, but weak on-chain activity, defensive derivatives positioning, and negative…
Bitcoin price started a decent increase above $92,000. BTC is now consolidating gains and might…
Bitcoin is currently holding steady, trading water around the critical $90,000 level as the market…
Since Bitcoin’s launch, the number of addresses holding more than 0.1 BTC has climbed steadily…
Bitcoin Magazine 22-Year-Old Pleads Guilty in $263 Million Bitcoin and Crypto Theft A 22-year-old California…