Japanese Firm Metaplanet Buys Another $1.2 Million in Bitcoin

Japanese investment firm Metaplanet has made another significant investment in Bitcoin, spending over $1.2 million to increase its holdings. The company continues to bolster its long-term strategy amidst Japan’s ongoing economic challenges.

In a recent X post, the Tokyo-listed investment adviser announced the acquisition of 20.38 BTC for ¥200 million (approximately $1.2 million). This purchase brings Metaplanet’s total Bitcoin reserves to 245.992 BTC, valued at over $16.6 million at current market prices.

Following this announcement, Metaplanet’s shares on the Tokyo Stock Exchange saw a rapid increase of over 20%, reaching $1.1, according to Google Finance. This surge reflects investor confidence in Metaplanet’s Bitcoin investment strategy.

This purchase follows Metaplanet’s recent allocation of over $6.2 million for Bitcoin. This investment was made through the issuance of a second series of ordinary bonds via EVO FUND. These bonds feature an annual interest rate of 0.5% and are set to mature on June 25, 2025.

Just a week prior, Metaplanet acquired an additional 21.8 BTC. This move aligns with the firm’s plan to safeguard its assets against Japan’s economic issues, which include high government debt, prolonged negative real interest rates, and a weak yen.

By increasing its Bitcoin holdings, Metaplanet aims to protect itself from these economic pressures. The company’s actions demonstrate a strong commitment to its long-term Bitcoin strategy, despite the current economic environment.