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Tokyo-listed Bitcoin holder Metaplanet has purchased an additional 108.786 Bitcoin for 1 billion yen, reflecting its ongoing bullish stance on the crypto asset.released on Monday, Metaplanet – often referred to as Japan’s MicroStrategy – now holds 639.503 BTC, with a current market value of around $40.6 million. The firm disclosed that it acquired the additional bitcoins at an average price of 9.19 million yen per coin, while its total bitcoin purchases averaged 9.32 million yen per bitcoin.
The Japanese company has ramped up its bitcoin purchases over the past few months. In May, it declared that it was adopting the cryptocurrency as a key part of its treasury reserve strategy. Last week, itthat the firm’s stock price jumped over 12% following the announcement on October 7th, peaking at 1,045 yen on the Tokyo Stock Exchange, but later declining to 988 yen.in August that it had obtained a 1 billion yen loan from shareholder MMXX Ventures to boost its Bitcoin reserves.
The deal was made with Singapore-based digital asset trading firm QCP Capital as the counterparty. The announcement revealed that Metaplanet received a premium of 23.972 BTC . Metaplanet provided $13.826 million in collateral and received a 0.1075 BTC premium per contract upfront. The transaction yielded a nominal return of 10.75% and an annualized return of 45.63%.One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions.
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