Japanese Firm Metaplanet Embraces Bitcoin, Adding 117 BTC to Reserve Assets Amid Yen Decline

Metaplanet, a publicly traded investment firm based in Japan, recently disclosed its decision to add Bitcoin to its reserve assets in response to the ongoing decline of the Japanese yen. This strategic shift in treasury management aims to address persistent economic challenges in Japan, including high government debt levels and prolonged periods of negative real interest rates, resulting in a weakened yen. The firm has not specified the exact amount of Bitcoin it intends to hold but revealed that it has accumulated approximately 117.7 BTC valued at $7.2 million as of May 10. This move follows Metaplanet's announcement in early April regarding its new Bitcoin-focused strategy, which garnered significant attention and led to a surge in the firm's stock price on the Tokyo Stock Exchange. Before embracing Bitcoin, Metaplanet primarily operated in traditional investment sectors, including a hotel business and investment services.