Japanese Public Investment Firm Metaplanet Doubles Down on Bitcoin, Purchases Another $2.4M Worth of BTC

Japanese investment firm Metaplanet announced the purchase of an additional 42.4 Bitcoin (BTC) for ¥400 million ($2.4 million) as the crypto market struggles to reclaim the $60,000 threshold.

Japanese public investment firm Metaplanet has announced another multi-million dollar Bitcoin (BTC) purchase as part of its long-term holding strategy.

According to a press release on July 8, Metaplanet purchased an additional 42.4 Bitcoin for 400 million yen ($2.4 million) amid the crypto market’s failure to reclaim the $60,000 price point.

The Tokyo-headquartered firm said the move aligns with its long-term strategy to hold Bitcoin as a “strategic treasury reserve asset.” With this latest acquisition, Metaplanet’s total Bitcoin holdings now surpass 203 BTC.

This purchase follows Metaplanet’s recent allocation of over $6.2 million through the issuance of the second series of ordinary bonds to buy Bitcoin for “long-term holding.” The bonds, offered via EVO FUND, carry an annual interest rate of 0.5% and will mature on June 25, 2025.

While the bonds have no collateral, Metaplanet has set up a first-priority mortgage on the land and building of Hotel Royal Oak Gotanda, owned by its wholly-owned subsidiary, Wen Tokyo Inc., to secure “all monetary claims.”

In May, Metaplnet announced it would begin purchasing Bitcoin in response to sustained economic pressures in Japan, including high government debt levels, prolonged periods of negative real interest rates and a “consequently weak yen.”

Later in June, Nomura published the results of a survey conducted alongside Laser Digital, which showed that over 500 investment managers in Japan are considering investing in crypto. The survey also found that about half of the respondents are open to using stablecoins for settlements and daily transactions.

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