Metaplanet Adds 1,111 Bitcoin, Treasury Tops $1 Billion

Tokyo-listed Metaplanet Inc. said it bought an additional 1,111 Bitcoin for roughly ¥17.3 billion ($118 million) at an average price of about ¥15.5 million ($106,000) per coin, according to a 23 June filing. The purchase lifts the hotel operator’s treasury to 11,111 BTC.

At today’s market price of about $101,000, the stash is valued at more than $1.1 billion, making Metaplanet one of the largest corporate holders of the cryptocurrency outside the United States. The company said the latest buy advances its goal of building a 30,000-Bitcoin reserve by the end of 2025.

Metaplanet began redirecting surplus cash into Bitcoin last year, echoing the playbook of U.S. software firm MicroStrategy. Bitcoin, which briefly fell below $100,000 over the weekend amid geopolitical tensions, was trading above $101,000 in Asian hours on Monday.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.