Japanese public company Metaplanet keeps buying Bitcoin for its “strategic treasury reserve asset.”
Japanese investment firm Metaplanet Inc., based in Tokyo, spent an additional $1.26 million to buy more Bitcoin (BTC), increasing its holdings beyond 200 BTC. This purchase comes as Bitcoin’s value soared above $63,000.
In a regulatory filing, Metaplanet disclosed the acquisition of 21.877 BTC for ¥200 million yen (approximately $1.259 million), averaging $57,623 per BTC. This raises the firm’s total Bitcoin reserves in its “strategic treasury reserve” to over 225.6 BTC.
The purchase comes just a week after Metaplanet acquired over 40 BTC for ¥400 million (around $2.4 million at the time). These purchases follow Metaplanet’s recent allocation of over $6.2 million for Bitcoin through the issuance of a second series of ordinary bonds via EVO FUND, featuring an annual interest rate of 0.5% and set to mature on June 25, 2025.
Metaplanet’s Bitcoin buying spree began in late June, although the company had already held BTC on its balance sheet prior to this period. In May, Metaplanet announced its intention to increase Bitcoin holdings, citing Japan’s economic challenges, including high government debt, prolonged negative real interest rates, and a “consequently weak yen.”
