Japanese company Metaplanet witnessed a surge in its stock price to three-month highs following the announcement of its latest Bitcoin acquisition. The firm added 1,004 BTC to its treasury, marking its third significant purchase this month. Just a week prior, it had acquired 1,241 BTC, surpassing El Salvador’s reserves, and on May 7, it made a smaller purchase of 555 BTC. The recent transaction was valued at 15.19 billion yen (approximately $104.3 million), with an average buying cost of 15.13 million yen per BTC. Metaplanet issues zero-coupon ordinary bonds to fund these purchases, with a total of 7,800 Bitcoin now held, representing an investment of 105.38 billion yen or roughly $712.5 million. The company's stock, 3350.T, appreciated by 12.6% following the news, reaching highs last seen on February 13, with a 101.7% increase in value over the past month. Read more AI-generated news on: https://app.chaingpt.org/news

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