A Japanese investment firm that’s been dubbed the Asian country’s answer to MicroStrategy—the American software firm that pioneered the Bitcoin treasury reserve strategy—has bought even more BTC.
Metaplanet, a publicly-traded company listed on the Tokyo Stock Exchange, said Monday that it had bought 108.786 Bitcoin for 1 billion yen ($6.7 million). It now holds 639.5 Bitcoin, today worth over $40 million.
The company offers specialized consulting services to assist businesses in adopting the biggest digital asset by market cap.
Metaplanet took a page out of MicroStrategy’s playbook of putting Bitcoin on its balance sheet back in April when it bought 1 billion yen worth of the asset.
The Japanese firm said at the time it was part of a strategy of not just “embracing digital assets, but also about pioneering a future where finance meets innovation at its core.”
The company has since been dubbed Asia’s answer to MicroStrategy, the largest public holder of Bitcoin, even though Metaplanet’s
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Author: Mathew Di Salvo
