Since its first Bitcoin purchase, the company's stock price surged 810% from about $0.12 to $1.10.
Japanese investment and consulting firm Metaplanet announced that it purchased an additional 20.38 in Bitcoin worth about $1.2 million (200 million yen) to complete its 1 billion yen purchase plans revealed in June.
On June 24, the company said it would issue 1 billion yen (about $6.26 million) worth of bonds to raise money to buy Bitcoin (BTC). The consulting firm said its basic policy is to “hold Bitcoin for the long term.”
After several purchases, the firm finally completed its plan to buy $6.26 million in BTC. On July 22, the company announced that it had bought 20.38 BTC at an average price of 9,813,061 ($62,574) yen per Bitcoin. Overall, the firm spent about $1.2 million on the latest purchase.
