Japanese listed company Metaplanet announced today in a tweet that it has further increased its holdings of 23.35 bitcoins (BTC). As of now, the company holds a total of 141.07 bitcoins, with a current market value of approximately 9.6 million US dollars.
According to a previous report by Zombit, Metaplanet is an early-stage investment company that no longer engages in Web3 businesses, focusing only on bitcoin and commercial real estate. The company plans to hold bitcoin long-term to minimize realized taxable gains. It also intends to engage in strategic currency arbitrage using its existing cash reserves and excess cash flow from holding assets, as well as issuing long-term yen-denominated debt to acquire more bitcoins when opportunities arise.
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