Metaplanet Boosts Bitcoin Holdings with $2M Purchase

Japanese investment company Metaplanet has significantly boosted its Bitcoin holdings with the acquisition of approximately 38 more BTC, valued at around 300 million yen ($2 million).

This latest purchase brings Metaplanet’s total Bitcoin assets to 398 BTC, equivalent to roughly 3.75 billion yen ($26 million). The firm continues to demonstrate strong confidence in Bitcoin’s potential.

The new Bitcoin acquisition comes as the market shows signs of recovery, with Bitcoin (BTC) rising by 3.12% in the last 24 hours to reach $56,732, recovering from a low of about $52,700 earlier in the week.

Following the announcement, Metaplanet’s shares increased by 4.42% on Tuesday, trading around 1,086 yen, though they had earlier peaked at approximately 2,000 yen. In contrast, the Nikkei 225 index saw only a slight uptick of 0.02%.

Metaplanet has been actively expanding its Bitcoin reserves, having first adopted Bitcoin as a strategic reserve asset in May, driven by Japan’s economic issues like high government debt, negative real interest rates, and a weakening yen.

Additionally, Metaplanet announced plans to exercise its rights to acquire series 11 shares, which is expected to generate about 299.7 million yen for further Bitcoin purchases.