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Japanese Giant Accelerated Towards Bitcoin Target: Collecting Again with Price Drop! - Coin Bulletin
Japan's giant Metaplanet continues to expand its goals in cryptocurrencies by increasing its total Bitcoin holdings to (BTC) at 3,050.
As the volatility in the cryptocurrency market continues, the Japan-based investment company Metaplanet announced on Wednesday that it has purchased 162 Bitcoin (BTC) more, increasing its total BTC holdings to 3,050. The company's CEO, Simon Gerovich, shared the purchase on social media platform X. According to the announcement, Metaplanet spent approximately $13.5 million in total, paying an average of $83,123 per Bitcoin for this latest acquisition.
The current market value of the company's Bitcoins is approximately $249.4 million, although the cost of acquiring these assets was approximately $253.7 million.
The company has been rapidly continuing its purchases since announcing its Bitcoin accumulation strategy in April 2024. In addition, in December of last year, it strengthened its commitment to cryptocurrencies by defining Bitcoin asset management as one of its main areas of activity.
Target 21,000 BTC by 2026!
Metaplanet, had purchased 497 more BTC approximately $43.9 million worth just a week ago. Thus, the company has accumulated a total of about 1,300 BTC within just 2024. The company continues to pursue its goal of accumulating 10,000 BTC by the end of the year. Additionally, the company management, revealing their longer-term plans, emphasized their goal to increase their total Bitcoin assets to 21,000 units by the end of 2026.
Following these developments, the company's shares rose by 8.1% to 3,610 yen in Japan, while the price of Bitcoin also gained 2% in the last 24 hours, trading at 81,808 dollars.