Metaplanet Inc., a well-known Japanese investment giant that added Bitcoin to its reserve assets. He announced that he made another Bitcoin purchase.
Accordingly, the company purchased 23,351 Bitcoin (BTC) worth approximately $1.59 million.
The company, which significantly increased its Bitcoin assets by purchasing more BTC, signaled that it is strengthening its place in the cryptocurrency market.
Metaplanet, known as the “MicroStrategy of Asia,” increased its total BTC holdings to 141.07 Bitcoins (worth $9.6 million) with an average purchase price of $65,365 (JPY10,278,391).
While Bitcoin is experiencing a decline ahead of the FED interest rate decision and CPI data, the market sees Metaplanet's bold move into the Bitcoin and cryptocurrency sector as a well-timed and strategic move to benefit from the price decline.
Bitcoin continues to trade at $67,570 at the time of writing.
*This is not investment advice.