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**Metaplanet Expands Bitcoin Treasury with 330 BTC Purchase as Market Tops $87,000**
In a move that underscores the growing interest in cryptocurrency among Japanese firms, Metaplanet has announced its decision to expand its Bitcoin treasury by purchasing an additional 330 units of the digital asset. This significant purchase comes as the market for Bitcoin tops $87,000, with many experts hailing it as a sign of renewed investor confidence.
As part of this strategic move, Metaplanet is leveraging various capital market activities to fund its Bitcoin-focused program. The company has successfully issued zero-coupon bonds and stock acquisition rights, which have raised over ¥35 billion (approximately $226 million). These funds will be used to acquire more Bitcoin, further bolstering the company’s treasury.
It’s worth noting that Metaplanet is not alone in this endeavor. ANAP Holdings, a fashion brand, has also recently purchased approximately 16.66 BTC, valued at around ¥200 million (approximately $1.4 million). This addition will be overseen by its subsidiary, ANAP Lightning Capital, with quarterly market value assessments to reflect gains or losses in its profit and loss statements.
The continued Bitcoin purchases from Japanese firms come as the cryptocurrency market begins to recover. The price of Bitcoin has reversed last week’s losses and now sits above $87,300, a significant upswing. Despite broader market instability, Metaplanet’s stock on the Tokyo Stock Exchange has actually risen by nearly 0.9% since market open on Monday.
The move by Metaplanet to expand its Bitcoin treasury is seen as a vote of confidence in the digital asset. As the market continues to recover, it remains to be seen how this will impact the broader cryptocurrency landscape.
**About the Author**
Oliver Dale is Editor-in-Chief at CoinCentral and founder of Kooc Media, a UK-based online media company. He believes in open-source software, blockchain technology, and a free and fair internet for all.
Source: https://coincentral.com/metaplanet-expands-bitcoin-treasury-with-330-btc-purchase-as-market-tops-87000/
