Following a 9.8% decrease in the value of Bitcoin over the past week, investors are showing signs of caution. Nevertheless, the Japanese company Metaplanet reaffirmed its confidence in this asset by purchasing approximately 620 bitcoins. This purchase, part of the company’s Bitcoin treasury operations, included 619.7 bitcoins worth around $60.6 million. Metaplanet’s total Bitcoin holdings have now reached 1,761.98 units, with a value close to $168 million. The company, known as ‘MicroStrategy Asia,’ has been accumulating bitcoins since May. Metaplanet recently announced its expectation to achieve operational profit for the first time in 7 years, mainly due to its decision to use Bitcoin as a treasury asset. For the fiscal year 2024, the company predicts revenue growth to 890 million yen (about $5.8 million) and operational profit of 270 million yen.
