Metaplanet Buys Another $1.2M Worth of Bitcoin as Investment Strategy Progresses

Metaplanet (3350), a publicly listed Japanese investment adviser, said it bought more than 20.2 bitcoin (BTC) as part of a $6 million strategy to boost BTC holdings in its treasury. In a statement on its website, the Tokyo-based company said it bought 200 million yen ($1.2 million) worth of bitcoin, taking its total holdings to 161.3 BTC. It posted a statement about the purchase to its account on social media platform X shortly after the close of trading on the Tokyo Stock Exchange. The bitcoin-accumulation strategy mirrors the approach taken by Tysons Corner, Virginia-based software developer MicroStrategy.

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