**Metaplanet Buys More Bitcoin Amid Market Rally**

Bitcoin-stacking investment firm Metaplanet has just added another 21.88 Bitcoin to its holdings, worth over $1.2 million, as Bitcoin prices near $65,000. This brings the Japan-based firm's total Bitcoin stash to 225.6 BTC, valued at $14.6 million.

The recent purchase and a 4.4% rise in Bitcoin's price over the last 24 hours have boosted Metaplanet's share prices by 25.8% to $0.74 on the Tokyo Stock Exchange.

Earlier this month, Metaplanet bought 42.46 Bitcoin for $2.5 million, capitalizing on a price dip. Since unveiling its Bitcoin strategy in April 2024, the firm's stock has surged nearly six-fold.

Despite these gains, Metaplanet's Bitcoin holdings are up just 2.8% due to an average purchase price of $62,890. The firm is currently the 21st-largest corporate Bitcoin holder globally, following a strategy similar to MicroStrategy's.

Metaplanet's Bitcoin strategy aims to hedge against Japan's debt burden and the depreciating yen, which has fallen 54% against the USD since January 2021. Meanwhile, Bitcoin has risen 145% against the yen in the past year.