Metaplanet's stock rose by 12% following their investment of 500 million yen (approximately $3.4 million) in Bitcoin. This expands their total Bitcoin holdings to 360.368 BTC at an average price of 9,573,556 yen per BTC, fulfilling their earlier commitment to purchase 1 billion yen worth of Bitcoin.
Japan is emerging as a leader in cryptocurrency adoption, driven by a weakening yen and governmental warnings, encouraging investors to turn to digital assets as a hedge.
CEO Simon Gerovich attributes Metaplanet's strategy to MicroStrategy’s influence, having steadily expanded their Bitcoin holdings from April 2024.
The firm’s strategy also includes future plans to purchase additional Bitcoin through bond issuance, reflecting a broader trend among Japanese firms to adopt Bitcoin amid the nation’s volatile currency.
Economists and government officials are cautious about Japan’s financial stability, pointing to Bitcoin as an alternative investment to mitigate risks from yen depreciation and debt burdens.
