Metaplanet’s shares surged over 20% on the Tokyo Stock Exchange following their acquisition of another 20.38 BTC for ¥200 million ($1.2 million) on Monday. This brings their total Bitcoin reserves to 245.992 BTC, valued at over $16.6 million.
The investment firm has been steadily increasing its Bitcoin holdings since April 23, a strategy to mitigate Japan’s economic challenges, including high debt and a weak yen. This latest purchase follows a recent $6.2 million allocation for Bitcoin via EVO FUND bonds.
Metaplanet now ranks 21st in Bitcoin holdings, showing a 766% increase in USD value. This move highlights the firm’s commitment to leveraging Bitcoin as a hedge against economic instability.
Strategically, Metaplanet’s actions underscore the growing adoption of Bitcoin as a long-term investment vehicle, especially in economically turbulent times.
