Japanese investment firm Metaplanet has announced a significant increase in its Bitcoin holdings by purchasing an additional 57.1 BTC worth approximately $3.3 million. The move brings the company’s total Bitcoin holdings to 303,095 BTC.
Japan’s Metaplanet Increases Bitcoin Holdings with $3.3 Million Acquisition
The Tokyo-listed firm said the latest acquisition was funded by a 500 million yen ($3.3 million) investment secured by a $6.8 million loan it received last week. Metaplanet plans to allocate a significant portion of that loan to further Bitcoin purchases.
Metaplanet's shares closed down 5.8% at 1,121 yen on Tuesday, after a remarkable 600% surge earlier this year.
The stock peaked at 3,000 yen on July 24. In comparison, the Nikkei 225 index gained 3.45% at the close of trading today.
Metaplanet CEO Simon Gerovich expressed the firm’s continued commitment to Bitcoin in a post published on X: “We will always be hoarding Bitcoin.”
In May, Metaplanet announced a strategic shift by adopting Bitcoin as a core treasury reserve asset in response to economic pressures in Japan, including high government debt, persistent negative real interest rates, and a weakening yen.
This strategy reflects the company's bullish stance on bitcoin and its role as a hedge against economic instability.
*This is not investment advice.
