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Metaplanet makes largest Bitcoin purchase to expand its holdings

In a significant move, Metaplanet purchased 619.7 BTC for 9.5 billion yen (60.5 million USD). This acquisition increases their total holdings to 1,761.98 BTC, valued at over 164 million USD, enhancing their strategic position.

Despite the aggressive Bitcoin acquisition strategy, Metaplanet’s stock has declined due to shareholder apprehension regarding its Bitcoin approach. Bitcoin currently trades around 92,625 USD, having fallen over 3% in the past 24 hours and 13% in the last week, exacerbating investor uncertainty.

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