Metaplanet, a publicly traded firm listed on the Tokyo Inventory Trade and infrequently in comparison with MicroStrategy, has acquired a further 20.2 Bitcoin (BTC), valued at roughly 200 million Japanese Yen (round $1.2 million), the corporate shared in a Monday publish.

*Metaplanet purchases further 20.20 $BTC* pic.twitter.com/4tCRWAc2an

— Metaplanet Inc. (@Metaplanet_JP) July 1, 2024

The newest transfer marks the corporate’s fourth Bitcoin buy over the previous 4 months, bringing its complete holdings to 161.27 BTC, price about ¥1.6 billion (over $10 million). The common buy price per Bitcoin stands at $63,500, in accordance with Metaplanet.

The corporate made earlier purchases on April 23, Might 10, and June 10. Following the third buy, Metaplanet’s shares soared 10%.

Metaplanet, which makes a speciality of resort improvement and actual property, has shifted its focus to investing in Bitcoin, utilizing it as a reserve asset amid Japan’s financial challenges.

The corporate’s transfer mirrors methods employed by different main corporations like MicroStrategy, leveraging Bitcoin as a hedge towards the weakening yen and financial instability.

As of July 1, world public firms maintain a collective 321,223 BTC, with MicroStrategy on the forefront, proudly owning 226,331 BTC, which constitutes over half of its market cap, as reported by BitcoinTreasuries.internet.

Japanese companies are more and more coming into the crypto market. In response to a survey by Nomura brokerage, up to 54% of fund managers in Japan plan to spend money on crypto throughout the subsequent three years.

As reported by Crypto Briefing right this moment, Sony International has acquired Amber Japan and is making ready to launch a crypto alternate.