Metaplanet Invests ¥1.75 Billion More in Bitcoin Amid Economic Challenges

Metaplanet Invests ¥1.75 Billion More in Bitcoin Amid Economic Challenges

The post Metaplanet Invests ¥1.75 Billion More in Bitcoin Amid Economic Challenges appeared first on Coinpedia Fintech News

Tokyo-based investment firm Metaplanet has announced it has bought more Bitcoin, spending ¥1.75 billion ($11.3 million). The company will issue one-year bonds to fund this purchase. Metaplanet now owns 1,018 BTC, worth $92.18 million, 0.005% of all Bitcoin available. This move comes when Japan faces a weak yen, high debt, and low interest rates. Since April, Metaplanet has been buying Bitcoin and using strategies to grow its investment. By adding more Bitcoin, Metaplanet shows its strong belief in cryptocurrency during tough economic times in Japan.