Japanese public company Metaplanet, often referred to as “Asia’s MicroStrategy,” has bolstered its Bitcoin holdings with a recent purchase of 21.38 BTC, valued at ¥200 million ($1.4 million). This acquisition brings Metaplanet’s total Bitcoin reserves to 245.992 BTC, worth approximately $16.73 million. Since April, the company has been systematically acquiring Bitcoin to hedge against the weakening Japanese yen. This investment strategy has significantly boosted Metaplanet’s stock performance, which surged over 150% in May.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.