Metaplanet, the Tokyo-listed hotel firm known for its bitcoin
acquisition strategy, has acquired 1,111 bitcoin for $117 million.
The firm bought bitcoin at an average price of about $105681 per BTC. The crypto markets fell during the weekend after the U.S. bombed several nuclear sites in Iran, pushing bitcoin to lows of $98,000.
Bitcoin has recovered from the weekend fall and is now trading over $101,000 at the time of writing.
The latest acquisition pushes Metaplanet’s total BTC stash to 11,111 bitcoin, worth over $1.1 billion, with an average buying price of $95,7000.
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