Tokyo-headquartered public consulting firm Metaplanet has allocated over $6.2 million to buy Bitcoin for “long-term holding.”

Metaplanet Inc., an investment firm specializing in hotel and crypto consulting, raised ¥1 billion yen through the issuance of the second series of ordinary bonds to purchase Bitcoin for long-term holding. The firm announced this in a statement released on June 24.

While the primary policy is to hold Bitcoin for the long term, Metaplanet did not rule out the possibility of using the cryptocurrency for operational needs or other purposes. In a separate filing, the firm disclosed that the bonds would be issued via EVO FUND at an annual interest rate of 0.5%, maturing on June 25, 2025.

Although the bonds have no collateral, Metaplanet has established a first-priority mortgage on the land and building of Hotel Royal Oak Gotanda, owned by its wholly-owned subsidiary, Wen Tokyo Inc., to secure all monetary claims. Following this announcement, Metaplanet’s shares rose by over 9% on the Tokyo Stock Exchange, according to financial data.

For Metaplanet, this is not their first foray into cryptocurrencies. The firm already holds over 141 BTC on its balance sheet, as indicated in another filing. This latest purchase highlights Metaplanet’s commitment to Bitcoin as a strategic treasury reserve asset.

In May, Metaplanet announced plans to buy Bitcoin in response to economic pressures in Japan, citing high government debt levels, prolonged periods of negative real interest rates, and a weak yen.

Metaplanet is not alone in viewing crypto as a safe harbor in a turbulent macroeconomic environment. A survey by Nomura, conducted with Laser Digital, revealed that over 500 investment managers in Japan are considering investing in crypto assets. The survey also found that about half of the respondents are open to using stablecoins for settlements and daily transactions.

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