Since announcing its Bitcoin strategy in April, Metaplanet has accumulated around 117.7 BTC valued at $7.2 million.
Publicly traded investment firm Metaplanet has added Bitcoin (BTC) as a reserve asset in response to a continued decline of the Japanese yen.
Metaplanet is making a “strategic shift” in its treasury management strategy, prioritizing Bitcoin-first and Bitcoin-only approach, the Tokyo-based firm officially announced on May 13.
“This move is a direct response to sustained economic pressures in Japan, notably high government debt levels, prolonged periods of negative real interest rates, and the consequently weak yen,” the company stated.
