As a result of the acquisition, the total stock of the first cryptocurrency on the company’s balance sheet reached 393.83 BTCwhich amounts to almost $23 million.
Metaplanet representatives explained that the strategy of buying Bitcoin is due to the weak yen and the country’s high level of public debt.
A few days ago Metaplanet announced an agreement with the cryptocurrency arm of a Japanese financial consortium SBI Group. It was announced that the cooperation will allow the investment company to gain access to a corporate service for storing digital assets SBI Groupwhich offers to use bitcoins as collateral to finance projects.
Earlier, MetaPlanet announced its readiness to continue purchasing bitcoins using funds received from the sale of shares.
Source: Bits
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