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Mohamed kori Crypto News
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Bullish
Japan-based investment firm Metaplanet has announced plans to increase its bitcoin (BTC) holdings by an additional $6 million, according to a statement on Monday. The company currently owns $9 million worth of Bitcoin.$BTC
This upcoming deal marks the company's third acquisition since April 2024. Last month, MetaPlanet reported that it had adopted Bitcoin as a reserve asset to mitigate risks linked to Japan's massive debt burden and yen volatility. Japan's net debt-to-GDP ratio was the highest among the G7 countries in 2023, at about 2023%.
In a press release, Metaplanet highlighted Japan's economic challenges, including high government debt levels and prolonged negative real interest rates, which have weakened the yen. The company described Bitcoin as a “non-sovereign store of value” whose price has risen against fiat currencies.
This upcoming deal marks the company's third acquisition since April 2024. Last month, MetaPlanet reported that it had adopted Bitcoin as a reserve asset to mitigate risks linked to Japan's massive debt burden and yen volatility. Japan's net debt-to-GDP ratio was the highest among the G7 countries in 2023, at about 2023%.
In a press release, Metaplanet highlighted Japan's economic challenges, including high government debt levels and prolonged negative real interest rates, which have weakened the yen. The company described Bitcoin as a “non-sovereign store of value” whose price has risen against fiat currencies.
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