The Japanese investment company Metaplanet continues its strategy of accumulating bitcoin, bringing its reserves to 141.07 BTC.
On June 11th, Metaplanet Inc., an investment company listed on the Tokyo Stock Exchange, announced that it had purchased an additional 23.351 bitcoins for a value of 250 million yen, equivalent to approximately $1.58 million.
This new purchase increases the company’s total bitcoin reserves to 141.0727 BTC, with a value of approximately $9.54 million. This latest transaction marks Metaplanet’s third bitcoin purchase in the last two months.
The move is part of the company’s strategy to diversify its reserves by adopting Bitcoin as a store of value asset, in response to the challenging economic conditions in Japan characterized by high levels of public debt, prolonged periods of negative real interest rates, and the consequent weakness of the yen.
Following the news, Metaplanet’s shares rose by 9.88%.
