Metaplanet, a company listed on the Tokyo Stock Exchange, is often compared to MicroStrategy. The company recently announced the acquisition of an additional 42.47 BTC, worth approximately 4 billion Japanese yen (about $23,000).
This news comes a week after they purchased Bitcoin for 200 million yen in the previous week.
This is the fifth BTC purchase by Metaplanet in the last four months, bringing their total number of Bitcoin tokens to over 203 BTC, valued at around 2 billion yen (over $11 million). The average purchase price is approximately $58,500.
Initially focused on hotel and real estate development, Metaplanet redirected its investment strategy towards Bitcoin, using it as a reserve asset to mitigate economic challenges in Japan.
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This strategy reflects a global trend where companies like MicroStrategy embrace the leading cryptocurrency as a hedge against economic uncertainty.