Metaplanet has bought more bitcoins in its largest unit purchase to date

A little-known Japanese investment firm that makes headlines Bitcoin The largest cryptocurrency that can be bought is more and more cracked.

Metaplanet, which trades on the Tokyo Stock Exchange, announced On Monday, it bought 619.7 Bitcoins for a total of 9.5 billion yen ($60.5 million), its largest ever purchase of the orange coin.

Just last week, Metaplanet said it accelerates the purchase of Bitcoin by issuing debt. As of Monday, he had 1,761.98 Bitcoins. That’s more than $164 million in the largest digital asset at today’s prices.

The company is copying the model created by American software firm MicroStrategy in 2020 started buying Bitcoin as a strategy to get the best value for money for shareholders. It now has 444,262 BTC worth over $41 billion. last purchase.

MicroStrategy securitizes Bitcoin, buying the asset and allowing investors to gain exposure to it through its Nasdaq-listed shares.

But not everyone in Japan affected by Metaplanet is happy with MicroStrategy: the company that copied the company’s shares. plunged hard Last week, it was reported that the firm would become a “Bitcoin treasurer” “responsible as a pioneer of the country’s Bitcoin ecosystem”.

Bitcoin is currently trading $92,625 per coin, a drop of more than 3% in 24 hours and a 13% fall in a seven-day period, CoinGecko data shows.

Edited by Andrew Hayward