Japanese investment firm Metaplanet has significantly increased its Bitcoin holdings to over 1,000 BTC. This move comes after a recent $10 million purchase of 156.7 BTC. The firm’s total Bitcoin investment is now valued at approximately $68.8 million.
The strategic decision to invest in Bitcoin was made during a challenging period for the company. Facing financial difficulties, Metaplanet saw Bitcoin as a way to stabilize its balance sheet and improve its financial position. Inspired by MicroStrategy’s approach, the firm has been steadily accumulating Bitcoin over the past few months.
Investors have reacted positively to Metaplanet’s Bitcoin strategy. The company’s stock price has surged by 7.18% following the latest purchase announcement.
Metaplanet’s Bitcoin investment is currently showing significant returns. The recent rise in Bitcoin’s price has resulted in an unrealized gain of over $6 million for the firm.