Metaplanet bolsters Bitcoin reserves with another purchase of 21.8 BTC

Japanese public company Metaplanet continues to purchase Bitcoin for its “strategic treasury reserve asset.”

Tokyo-based Japanese investment firm Metaplanet Inc. has spent an additional $1.26 million to buy more Bitcoin (BTC) as the largest cryptocurrency by market cap surged above $63,000, bringing its holdings to over 200 BTC.

In a regulatory filing, Metaplanet announced that it purchased 21,877 BTC for 200 million yen (about $1.259 million), averaging $57,623 per BTC. The latest purchase brings the firm’s total Bitcoin reserves in its “strategic treasury reserve” to over 225.6 BTC.

The purchase comes just a week after Metaplanet purchased over 40 BTC for ¥400 million (around $2.4 million at the time). The purchases follow Metaplanet’s recent allocation of over $6.2 million to Bitcoin through the issuance of a second series of ordinary bonds issued through EVO FUND, bearing an annual interest rate of 0.5% and maturing on June 25, 2025.

Metaplanet’s Bitcoin buying spree began in late June, but the company already had BTC on its balance sheet before that period. In May, Metaplanet announced its intention to increase its Bitcoin holdings, citing Japan’s economic challenges, including high government debt, long periods of negative real interest rates, and a “weak yen as a result.”

As Crypto.news previously reported, global financial services group Nomura released the results of a survey conducted in late June in collaboration with Laser Digital, revealing that over 500 investment managers in Japan are considering investing in crypto. The survey also found that nearly half of the respondents are open to using stablecoins for payments and daily transactions.