Japanese public company Metaplanet continues to invest in Bitcoin as part of its strategic treasury reserve asset.

Metaplanet Inc., a Tokyo-based investment firm, has recently spent an additional $1.26 million to acquire more Bitcoin (BTC), pushing its total holdings beyond 200 BTC. This move comes as Bitcoin’s price surged above $63,000, reflecting its growing market capitalization.

In a regulatory filing, Metaplanet revealed the purchase of 21.877 BTC for ¥200 million yen (approximately $1.259 million), with an average cost of $57,623 per BTC. This latest acquisition brings the firm’s total Bitcoin reserves in its strategic treasury reserve to over 225.6 BTC.

Metaplanet purchases additional 21.88 BTC

The recent purchase follows a significant buy just a week earlier, where Metaplanet acquired over 40 BTC for ¥400 million (around $2.4 million at the time). These acquisitions are part of a broader strategy that also involved allocating over $6.2 million for Bitcoin through the issuance of a second series of ordinary bonds via EVO FUND, which carry an annual interest rate of 0.5% and are set to mature on June 25, 2025.

Metaplanet’s aggressive Bitcoin purchasing began in late June, though the company already held BTC on its balance sheet before this period. In May, Metaplanet announced plans to increase its Bitcoin holdings, citing Japan’s economic challenges such as high government debt, prolonged negative real interest rates, and a weak yen.

Additionally, a survey conducted by Nomura and Laser Digital revealed that over 500 investment managers in Japan are considering investing in crypto. The survey highlighted that about half of the respondents are open to using stablecoins for settlements and daily transactions.

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