Metaplanet, a prominent Japanese company, has further solidified its position in the crypto space by acquiring an additional ¥500 million worth of Bitcoin (BTC). This acquisition increases the company’s total Bitcoin holdings to approximately 303 BTC, valued at nearly $18 million.

Following a ¥1 billion loan secured last week, Metaplanet is pushing forward with its Bitcoin-centric strategy. The company has also announced plans to raise $70 million through a stock rights offering, with $58 million earmarked for further Bitcoin investments. This bold move underscores Metaplanet’s commitment to using Bitcoin as a treasury reserve asset, offering domestic investors exposure to the leading cryptocurrency.

Inspired by the approach of U.S. firm MicroStrategy, Metaplanet views Bitcoin as a strategic long-term investment. The company sees it as a hedge against the yen’s depreciation and Japan’s high government debt, demonstrating confidence in the future of Bitcoin despite market fluctuations.