Metaplanet Tokyo Secures Additional 21.9 Bitcoin in Treasury Expansion

Metaplanet, a Tokyo-based publicly traded company, announced an increase in its bitcoin holdings. The company purchased 21.877 bitcoins. 

Equivalent to approximately $1.26 million (200 million Japanese yen), bringing its total holdings to 225.61 bitcoins, valued at over $14.17 million. In May, Metaplanet adopted a “bitcoin first” strategy to hedge against the devaluation of the Japanese yen and position itself as a Japanese bitcoin proxy, similar to MicroStrategy, appealing to investors interested in cryptocurrency.

Clever Robot News Desk 17th July 2024

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