Metaplanet Doubles Down on Bitcoin, Spending $1.2 Million on 20.2 BTC

Japanese investment advisor Metaplanet has furthered its commitment to Bitcoin, purchasing 20.2 BTC for $1.2 million, bringing its total holdings to 161.3 BTC. This latest purchase follows their recent announcement of a $6 million Bitcoin acquisition strategy, reflecting a broader trend among corporations to diversify into the cryptocurrency market. Metaplanet's move mirrors the strategy of MicroStrategy, a software developer known for its massive Bitcoin holdings. The company cites the changing investment environment since the pandemic as a key driver for this strategy. Metaplanet's share price rose by 1% following the announcement.