Japanese investment firm Metaplanet has purchased an additional 42.4 Bitcoin (BTC) for ¥400 million ($2.4 million) amid a crypto market slump. This acquisition aligns with Metaplanet’s long-term strategy to hold Bitcoin as a “strategic treasury reserve asset.”
With this latest purchase, Metaplanet’s total Bitcoin holdings now exceed 203 BTC. Earlier this year, Metaplanet allocated over $6.2 million through the issuance of ordinary bonds to buy Bitcoin. These bonds, offered via EVO FUND, carry a 0.5% annual interest rate and will mature on Jun. 25, 2025.
Metaplanet’s proactive approach is partly due to Japan’s economic pressures, including high government debt and a weak yen. A significant survey by Nomura and Laser Digital found that over 500 investment managers in Japan are considering investing in crypto. The same survey revealed that about half of the respondents are open to using stablecoins for settlements and daily transactions.
Metaplanet’s strategic Bitcoin investments could set a precedent for other firms, highlighting the growing institutional interest in crypto as a long-term asset.
