Metaplanet Expands Bitcoin Holdings by $2 Million Amid Japan’s Economic Challenges

Japanese investment firm Metaplanet continues its aggressive Bitcoin acquisition strategy by purchasing $2 million worth of the cryptocurrency. As of a September 10 filing, Metaplanet, which is listed in Tokyo, has acquired over 38.4 BTC, raising its total holdings to more than 398.8 BTC, valued at around $22.7 million.

Metaplanet's increased investment in Bitcoin aligns with its strategy to use the cryptocurrency as a reserve asset amidst Japan’s economic difficulties and yen depreciation. The recent increase in Japan’s benchmark interest rate to 0.25% by the Bank of Japan, aimed at strengthening the yen, has further encouraged Metaplanet’s move to diversify into Bitcoin. This strategy parallels U.S.-based MicroStrategy’s approach to Bitcoin investments.

Additionally, Metaplanet has partnered with SBI VC Trade, a subsidiary of Japan’s SBI Group, to leverage corporate custody services and financing options with Bitcoin as collateral. This partnership is expected to improve compliance and tax efficiency for Metaplanet's expanding crypto portfolio.