Metaplanet Buys Another $1.2M Worth of Bitcoin as Investment Strategy Progresses
Summary
Japanese investment adviser Metaplanet has purchased over 20.2 bitcoin (BTC), equivalent to $1.2 million, as part of a $6 million strategy to increase its BTC holdings. This takes the company's total BTC holdings to 161.3. The move was influenced by changes in the investment environment due to the Covid pandemic. This strategy is similar to that of Virginia-based software developer MicroStrategy, which has been purchasing BTC for nearly four years and now owns over 226 BTC. Prior to the announcement, Metaplanet shares rose by 1%.
