Metaplanet Inc. (3350) bought another 1,009 Bitcoin that brings its total treasury to 20,000 BTC and overtaking rebel platforms (RIOT) to be company with the sixth largest treasury for the largest cryptocurrency.
The purchase, which is appreciated at approx. 16.5 billion yen ($ 112 million)demonstrates the obligation of the Tokyo-based company to place Bitcoin as a core reserve asset. Its total Bitcoin purchase now amounts to 302.3 billion yen at an average cost of 15.1 million yen per year. BTC, according to a filing released Monday.
The pace of the company’s Bitcoin accumulation has made Asia’s most prominent publicly traded adopts of cryptocurrency. From July 1 to September 1, the company achieved a BTC yield of 30.7%, while there are more to the net value (Mnav) sitting just under 2.
Shares of the metaplan fell 5.5% to 831 yen.
