Metaplanet stock jumps 19% as it buys the dip with 497 Bitcoin purchase

Japanese investment firm Metaplanet has bought Bitcoin for the second time this week, which has seen its share price jump 19% so far in the Tokyo trading day.

Japanese investment firm Metaplanet has bought another $44 million worth of Bitcoin, which has seen its stock jump by 19% on the day so far.

Metaplanet CEO Simon Gerovich said in a March 5 X post that the firm bought 497 Bitcoin (BTC) at around $88,448 per coin for a total spend of $43.9 million. He added the company has achieved a year-to-date yield of 45%.

The company’s March 5 disclosure said its latest purchase brings its total Bitcoin holdings to 2,888 BTC at an average purchase price of $84,240 per coin. The stash is worth around $251 million, with Bitcoin trading at around $87,150.

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