Metaplanet, a Japanese investment firm, has revealed its latest bitcoin (BTC) purchase, amounting to 250 million yen ($1.6 million), bringing its total holdings of the cryptocurrency to 141 BTC, valued at approximately $9.4 million. Following this announcement, Metaplanet’s stock surged by 9.9% on Tuesday, marking its third bitcoin purchase since April 2024.
This move aligns with Metaplanet’s strategy to diversify its holdings and hedge against risks associated with Japan’s debt burden and the resulting volatility in the yen. Japan’s government debt-to-GDP ratio, the highest among G7 nations, stood at around 159% in 2023, according to data from Statista. In contrast, Canada recorded the lowest ratio at just 15%.
Metaplanet’s adoption of bitcoin as a reserve asset mirrors the approach taken by MicroStrategy (MSTR), a software developer based in Tysons Corner, Virginia. Since initiating its bitcoin purchases in 2020, MicroStrategy has amassed 214,400 BTC, equivalent to $14.3 billion, making it the largest corporate holder of the token.
By embracing bitcoin, Metaplanet aims to safeguard its assets against currency devaluation and economic uncertainty, following the footsteps of MicroStrategy and other corporate entities recognizing the value of cryptocurrency as a store of value and hedge against inflation.
