Japanese investment firm Metaplanet now owns over $168 million worth of Bitcoin following a recent BTC purchase.
The company then started collecting the top crypto assets by market capitalization announced a shift in treasury management strategy earlier this year, with a total of 156.78 BTC purchased over the weekend.
Metaplanet explained at the time:
“This move is in direct response to continued economic pressures in Japan, particularly high government debt levels, prolonged periods of negative real interest rates and the resulting weak yen. Metaplanet’s strategy unequivocally prioritizes a Bitcoin-first, Bitcoin-only approach for the company, with the potential use of long-term yen liabilities and periodic equity issuances as strategic financial options to continually accumulate more Bitcoin in place of the increasingly weaker yen to keep. This approach is designed to contribute on a bitcoin per share basis, supporting long-term shareholder value.”
With a total holding of 1,018 Bitcoin, Metaplanet is now the largest corporate BTC holder in Japan, the second largest in Asia and the 19th largest in the world, according to BitcoinTreasuries.net.
Bitcoin is trading at $72,681 at the time of writing. The highest-ranked crypto asset by market capitalization is up more than 4% in the past 24 hours and almost 8% in the past week.
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