Metaplanet, a publicly traded Japanese investment advisor, has raised 20.2% to increase its BTC holdings in its treasury. Bitcoin (BTC) he said he bought it.

Metaplanet Buys Another $1.2 Million Worth of Bitcoin as Investment Strategy Advances

The Tokyo-based company announced on its website that it has purchased 200 million yen ($1.2 million) worth of Bitcoin, bringing its total holdings to 161.3 BTC.

The company posted a statement about the acquisition on its account on social media platform X shortly after trading on the Tokyo Stock Exchange closed.

A week ago, the company said it planned to increase its Bitcoin holdings by purchasing an additional $6 million worth of BTC. According to the Metaplanet website, the focus on Bitcoin was driven by changes in the investment landscape resulting from the Covid pandemic.

The Bitcoin accumulation strategy mirrors the approach taken by Tysons Corner, Virginia-based software developer MicroStrategy, which has been buying BTC for almost four years and currently owns over 226 BTC, or more than 1% of all Bitcoin ever to be issued.

Metaplanet shares rose 1% ahead of the announcement.

*This is not investment advice.

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