Metaplanet Invests ¥1.75 Billion More in Bitcoin Amid Economic Challenges
Tokyo-based investment firm Metaplanet announced it spent 1.75 billion yen ($11.3 million) to buy more Bitcoin. The company will issue one-year bonds to fund the acquisition. Metaplanet currently holds 1,018 BTC worth $92.18 million, accounting for 0.005% of all available Bitcoin. The move comes as Japan faces a weak yen, high debt and low interest rates. Metaplanet has been buying Bitcoin since April and using strategies to grow its investments. By adding more Bitcoin, Metaplanet is showing its strong belief in cryptocurrencies during a difficult economic period in Japan.
