Japan’s Metaplanet Bought Over $12,4M In Bitcoin
Key Points
- Metaplanet bought 150 BTC, raising total holdings to 3,200 BTC.
- Today, BTC is trading above $83,000.
The Japanese company Metaplanet announced that it bought more Bitcoin today, raising its total holdings. BTC is trading above $83,000, following a price decline from $84,000 levels.
Metaplanet Buys 150 BTC
In a post on X, Metaplanet announced that it bought an additional 150 BTC valued at over $12,4 million at current prices.
The average purchase price was over 12,5 million yen per Bitcoin (over $83,400) and the aggregated amount purchased is 1.879 billion yen (over $12,5 million), according to the official notes.
As of today, March 18, the Japanese company holds 3,200 BTC worth about $265,6 million. The average purchase price was over 12,6 million yen per BTC (over $84,100) and the aggregated amount purchased was over 40,3 billion yen (over $269 million).
On 31 December 2024, the company was holding over 1,761 BTC, and this year, it bought 1,438 more BTC.
The company followed the same BTC buying strategy like Strategy₿ formerly known as MicroStrategy and has been buying BTC since April 2024.
Today, Bitcoin is trading above $83,000 following an earlier dip below the level.
Bitcoin Trades Above $83,000
At the moment of writing this article, BTC is trading above $83,000, after an earlier price drop to $82,000 levels.
Bitcoin recorded a price drop from $84,000 levels on March 17, amidst increased volatility.
This is an important economic week in the US with the next FOMC meeting scheduled for tomorrow, March 19. During tomorrow’s meeting, the Fed will address the economic situation in the US and potential interest rate cuts.
However, the crypto industry continues to maintain optimism amidst increasing global adoption and ahead of codifying Trump’s Executive Order on a Strategic Bitcoin Reserve and Crypto Stockpile into law.
Last week, on March 14, US Representative Byron Donalds introduced legislation to codify Trump’s order and if the bill passes, it would bring multiple benefits for the industry in the US.
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