There are many companies following in the footsteps of MicroStrategy, one of the largest institutional BTC investors, with their Bitcoin purchases.
One of these companies was the Japanese giant Metaplanet.
Metaplanet Inc., a well-known Japanese investment giant, announced that it has made another Bitcoin purchase. Accordingly, the company spent 200 Million Yen ($1.25 million) to purchase Bitcoin. By purchasing additional BTC, the company signaled that it is strengthening its place in the cryptocurrency market.
The company made a big impact in the country last month by investing 1 billion Yen ($6.5 million) in Bitcoin for its corporate treasury.
With the latest purchase, Metaplanet holds 117.72 Bitcoins as of May 10, purchased for ¥1.2 billion at an average price of ¥10,193,536 per BTC.
Currently, the value of BTCs is approximately 7.397 Million dollars.
In their statement, Metaplanet officials said that the company's purchase of Bitcoin is not just a financial decision or investment. Believing that the BTC move will make the company a pioneer in the field of finance, Metaplanet said that by adopting Bitcoin, it aims to be a pioneer in Japan's digital finance field and the adoption of cryptocurrencies.
Metaplanet also thinks that established and important companies like themselves purchasing Bitcoin could increase confidence among investors and help the cryptocurrency market grow.
*This is not investment advice.
