Metaplanet boosts Bitcoin holdings following MicroStrategy’s lead

Metaplanet, a Japan-based investment firm, has continued to expand its Bitcoin (CRYPTO:BTC) holdings, resulting in a 12% surge in its stock price.

The company recently invested 500 million yen (approximately $3.4 million) into Bitcoin, further solidifying its position as Japan's largest corporate Bitcoin holder.

This purchase follows Metaplanet's earlier commitment to acquiring 1 billion yen worth of Bitcoin, announced on August 8.

The firm’s latest acquisition includes 57.273 BTC, bought at an average price of 8,730,117 yen per token.

With this addition, Metaplanet's total Bitcoin holdings have increased to 360.368 BTC, acquired at an average price of 9,573,556 yen per BTC.

The strategic move to increase its Bitcoin reserves reflects a broader trend among Japanese companies seeking to hedge against the volatility of the yen.

With Japan’s currency continuing to weaken and government officials issuing warnings about the economic outlook, more investors are turning to digital assets like Bitcoin as a safeguard.

Metaplanet’s approach closely mirrors that of MicroStrategy, the American business intelligence firm known for its substantial Bitcoin investments.

MicroStrategy, led by Michael Saylor, currently holds over 220,000 BTC, making it the largest corporate Bitcoin holder globally.

Metaplanet’s growing Bitcoin portfolio demonstrates the increasing adoption of cryptocurrency among Japanese firms, positioning the company as a significant player in the country’s evolving digital asset landscape.

This latest purchase underscores Metaplanet's commitment to integrating Bitcoin into its investment strategy, leveraging the digital asset as a key component of its treasury reserves.

As Japan continues to grapple with economic challenges, the firm’s focus on Bitcoin highlights the growing appeal of cryptocurrency as a reliable store of value in uncertain times.

At the time of reporting, the Bitcoin price was $59,264.57.