Metaplanet Discloses $1.6M BTC Purchase; Shares Jump 10%

Japanese investment firm Metaplanet disclosed an additional bitcoin (BTC) purchase, worth 250 million yen ($1.6 million), taking its holdings of the largest cryptocurrency to 141 BTC, a value of about $9.4 million. Metaplanet stock rose by 9.9% Tuesday after it made the purchase, its third since April 2024, public. Last month, the company said it made bitcoin a reserve asset to reduce its exposure to risk arising from Japan's debt burden and the resulting volatility in the yen. Metaplanet's bitcoin strategy mirrors that of Tysons Corner, Virginia-based software developer MicroStrategy (MSTR), which has accumulated 214,400 BTC worth $14.3 billion.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android