By topping up its bag, the entire Metaplanet portfolio now comes in at 225.611 BTC. These coins were acquired for an average of 9,972,933 yen, for a total of 2.25 billion yen, or $14.197 million.
Metaplanet’s approach to Bitcoin is proof that the exact playbook of MicroStrategy may be copied by any company that believes in the potential of BTC. This adoption of the Bitcoin strategy is also applicable irrespective of geographical location, as BTC is traded without any form of government restriction.
The acquisitions have helped sustain the price of Bitcoin in the $53,717.38 and $67,188.32 range that it has traded in over the past month.
Notably, the firm has joined MicroStrategy in issuing bonds to buy Bitcoin. Per its disposition, Metaplanet may not stop buying Bitcoin until some of its bags rake in at least a reasonable amount of profit.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
