Tokyo-listed investment firm Metaplanet has announced the acquisition of an additional 107.913 Bitcoin, valued at ¥1 billion (approximately $7 million). This latest purchase increases the company’s total Bitcoin holdings to around 506 BTC, equivalent to about $32 million at current prices. This acquisition follows a previous purchase of ¥300 million worth of Bitcoin last month.

Inspired by MicroStrategy’s investment strategy, Metaplanet has been actively accumulating Bitcoin as a strategic treasury reserve asset, aiming to address economic challenges in Japan. The firm has consistently added to its Bitcoin holdings, demonstrating its commitment to the cryptocurrency despite recent market downturns. Metaplanet believes this strategy will provide domestic investors with exposure to Bitcoin and allow them to benefit from favorable tax treatment.

In September, Metaplanet also partnered with SBI Group’s crypto investment arm to enhance its Bitcoin trading and custody services, focusing on compliant corporate custody, tax efficiency, and leveraging Bitcoin as collateral.