The Japanese company Metaplanet announced this Monday that it had once again increased its Bitcoin reserve by purchasing an additional 109 BTC. Now, that cash flow stands at more than $40 million.
Metaplanet adds 109 BTC to its Bitcoin reserve
This Monday, the Japanese company Metaplanet announced a new investment in Bitcoin, amounting to nearly 109 BTC. This corresponds to a purchase of one billion yen, which represents, at the current exchange rate, more than $6.9 million.
Thus, the company sees its cash flow amounting to 639.5 bitcoins, all valued at more than 40.65 million dollars, or nearly 6 billion yen. At the moment, Metaplanet has been able to build this reserve for an average purchase price per BTC of around $62,900.
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At the same time, BTC is trading at $63,577, up 2.6% over the last 24 hours. This therefore represents only a small latent capital gain for Metaplanet at the moment, which began building up its cash flow just a few months ago.
Furthermore, the amounts involved remain much lower compared to other institutional players. For comparison, MicroStrategy currently has a BTC reserve of 252,220 units. However, the comparison can be made again in the future, as the company continues its investments.
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On the stock market side, Metaplanet's shares are trading at $6.67 per unit, up 7.86% over Monday's session, all for a capitalization of approximately $110 million.
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Source: Metaplanet
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