Metaplanet Adds 1,111 BTC Worth $117 Million, Pushing Total Holdings Past 11,000
Metaplanet, the Tokyo-listed hospitality company rapidly transforming into a prominent bitcoin investor, has purchased an additional 1,111 BTC for $117 million.
The latest acquisition was made at an average price of $105,681 per bitcoin, taking advantage of a recent market dip sparked by geopolitical tensions. Over the weekend, bitcoin prices briefly fell to around $98,000 following U.S. airstrikes on Iranian nuclear sites, creating a buying opportunity for institutional players like Metaplanet.
Since then, bitcoin has rebounded and is trading above $101,000 at the time of writing.
With this new purchase, Metaplanet’s total bitcoin holdings have grown to 11,111 BTC, valued at over $1.1 billion. The company’s average cost basis across its holdings now sits at roughly $95,700 per bitcoin.
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