Bitcoin investment firm Metaplanet has recently acquired an additional 21.88 Bitcoin, valued at over $1.2 million, during the ongoing Bitcoin surge, pushing prices close to $65,000. With this purchase, the Japan-based company now holds a total of 225.6 Bitcoin, worth $14.6 million. The surge in Bitcoin prices by 4.4% in the last 24 hours has also led to a 25.8% increase in Metaplanet's share prices. The firm's stock price has skyrocketed since revealing its Bitcoin investment strategy in April 2024. Similar to MicroStrategy, Metaplanet plans to use various capital market instruments to strengthen its Bitcoin reserves. This move is aimed at hedging against Japan's weakening currency and increasing debt burden. Despite the rise in Bitcoin prices, the Japanese yen has depreciated significantly against the US dollar, making Bitcoin a more attractive investment option. Read more AI-generated news on: https://app.chaingpt.org/news