Japanese investment company continues to accumulate Bitcoin

Japan-based Metaplanet, which announced for the first time in May that it had chosen Bitcoin as the reserve asset, received another 38 BTC. The company's total Bitcoin investment also reached the level of 26 million dollars.

Japanese investment firm Metaplanet has announced a new Bitcoin purchase. Nicknamed "Japan's MicroStrategy", the company received 38.4 BTC worth 300 million yen (about 2 million dollars). The total number of BTC in the company's reserves was 398.8 (approximately 26 million dollars).

After the announcement of the purchase, there was a 4.4% increase in Metaplanet shares in the Japanese stock market.

As it will be remembered, the investment firm announced in May that it chose Bitcoin as a strategic reserve asset. Following the announcement, the company started buying Bitcoin regularly. Behind the choice of Bitcoin in the statement; reasons such as weak Japanese yen, low interest rates, high debt level of the government were listed.

Big deal with SBI Group

Metaplanet also announced its agreement with SBI VC Trade, a subsidiary of SBI Group, one of the largest financial companies in Japan, in recent weeks. This company, which is the largest crypto platform in Japan, will provide institutional custody services to Metaplanet. On the other hand, it will also provide assistance in the use of Bitcoin as a loan collateral.

The company that holds the most Bitcoin in its reserves in the world is MicroStrategy with more than 226 thousand BTC, while the US Bitcoin miner Marathon Digital (25 thousand BTC) is in second place.