Metaplanet, a publicly traded company in Japan, has added Bitcoin as a reserve asset after buying 117.7 BTC, or about $7.2 million.
Metaplanet is making a “strategic shift” in its treasury management strategy, prioritizing Bitcoin-first and Bitcoin-only approach, the Tokyo-based firm officially
“This move is a direct response to sustained economic pressures in Japan, notably high government debt levels, prolonged periods of negative real interest rates, and the consequently weak yen,” the company stated. The announcement doesn’t specify how much Bitcoin is currently held or planned to be held in Metaplanet’s treasury. On May 10, Metaplanetthat it bought a total of 117.7 BTC at the average price of around 10.2 million yen, or $65,000. Metaplanet’s market valueThe move fueled significant traction on social media and caused a sharp price increase of Metaplanet shares on the Tokyo Stock Exchange.
to record lows in April last seen in the 1990s . According to local sources, the yen’s drop in value over the past three yearsCPI meets $60K BTC price battle — 5 things to know in Bitcoin this week
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