Metaplanet Acquires ¥18.4 Billion Worth of Bitcoin in Major Institutional Move

Metaplanet Inc., a Japanese investment firm listed on the Tokyo Stock Exchange, has made a bold move by purchasing 1,241 Bitcoin for approximately ¥18.4 billion (about $118 million USD). This significant acquisition signifies growing institutional interest in cryptocurrency within Japan, echoing similar strategies employed by tech giant MicroStrategy to bolster their treasury reserves with Bitcoin. This purchase suggests a broader shift in Japanese firms’ attitudes towards digital assets as regulatory clarity and demand for alternative investments increase.