2 weeks ago
Metaplanet (3350), a Tokyo-listed concern firm, said it bought different 463 bitcoin (BTC), emphasizing the cryptocurrency's semipermanent shareholder worth adjacent arsenic its banal fell much than 7% to beryllium astatine fractional the worth it held successful June.
The latest acquisition outgo the institution 7.995 cardinal yen ($540 million) astatine an mean terms of 17.3 cardinal yen per bitcoin and takes full holdings to 17,595 BTC. In all, Metaplanet has paid immoderate 261.28 cardinal yen for its stash.
The acquisition comes amid a slump successful Metaplanet’s stock price, which slid to 987 yen connected Monday, astir 50% beneath its June peak. With its worth reflecting some the changing terms of bitcoin and the summation successful its BTC holdings, Metaplanet is positioning itself arsenic Asia’s closest proxy to a bitcoin exchange-traded fund.
The institution reported BTC Yield, which gauges bitcoin accumulation per share, of 309.8% for fourth-quarter 2024 and 129.4% for the 2nd quarter. The output has slowed to 52.6% arsenic of Aug. 4.
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