22 And Counting: Japanese Firm Buys More Bitcoin, Shows No Signs of Stopping
Metaplanet Inc., a publicly traded company based in Tokyo, has made news again with its latest Bitcoin buy. Today, the company revealed that it had bought an extra 21.88 BTC for 200 million yen, which is about $1.26 million at the moment.
Bitcoin Adoption And More
This year, Metaplanet released its Bitcoin for Treasury Asset Policy, which paved the way for smaller companies that want to use digital currencies to do so. Since then, the company has steadily increased its Bitcoin holdings by buying more every two months, even though market conditions have changed.
Analysts think that their most recent move, which came at a time when the price of Bitcoin was fluctuating, was a smart one to take advantage of lower prices and increase their long-term gains on investment.
*Metaplanet purchases additional 21.88 $BTC * pic.twitter.com/zCXzKFudog
— Metaplanet Inc. (@Metaplanet_JP) July 16, 2024
The company now has 225.6 BTC in Bitcoin, which it bought for an average of 9,972,930 yen each, for a total of 2.25 billion yen, or $14.1 million. Metaplanet is clearly confident in Bitcoin’s ability to function as a useful financial asset, similar to what bigger companies like MicroStrategy are doing in the global market.
Effects On The Market And How Investors Feel
Following the revelation of Metaplanet’s most recent purchase, Google Finance disclosed that the shares of the company rose by 10% to ¥102 per share. This increase indicates that investors have faith and trust the company’s proactive approach of handling digital resources.

Market watchers see Metaplanet’s continued buying of Bitcoin as a sign of a larger trend of institutions becoming interested in cryptocurrencies. Small and medium-sized businesses are using digital assets more and more in their financial plans because of the success of early users.
Companies all over the world are using Bitcoin as a treasury asset because they know it can help them spread their holdings and protect them against market instability.
Perspectives On The Future And Adoption By Institutions
Experts in the market think that Metaplanet and other similar groups will continue to push institutions to adopt Bitcoin. This will change the way people think about how to allocate assets and how to keep their money safe.
Finally, the company’s most recent Bitcoin purchase shows how bold the company is in adapting to the changing world of digital finance. As more and more countries accept cryptocurrencies as real government assets, smaller companies like Metaplanet will be able to use these new technologies to ensure long-term growth and stability in an economy that is becoming more and more digital.
Featured image from GaijinPot Blog, chart from TradingView
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cobie: Long-term trading
Crypto Twitter doesn't want to hear "get rich in ten years" stories. But that might actually be the only truly viable way.

The central bank sets a major tone on stablecoins for the first time—where will the market go from here?
This statement will not directly affect the Hong Kong stablecoin market, but it will have an indirect impact, as mainland institutions will enter the Hong Kong stablecoin market more cautiously and low-key.

Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire
A few days before his death, Munger asked his family to leave the hospital room so he could make one last call to Buffett. The two legendary partners then bid their final farewell.

Stacks Nakamoto Upgrade
STX has never missed out on market speculation surrounding the BTC ecosystem, but previous hype was more like "castles in the air" without a solid foundation. After the Nakamoto upgrade, Stacks will provide the market with higher expectations through improved performance and sBTC.
