Metaplanet, which is listed on the Tokyo Stock Exchange, acquired 300 million yen (about $2 million) worth of Bitcoin, according to a filing published on September 10. As a result of this transaction, the company acquired more than 38.4 Bitcoin (BTC), bringing its total Bitcoin assets to over 398.8 BTC.

Based on current market values, the total value of these Bitcoins is calculated at approximately $22.7 million.

Metaplanet was one of the companies that adopted Bitcoin as a reserve asset earlier this year. During this period when Japan was experiencing economic recession, the company began to increase its Bitcoin purchases in order to diversify its reserves.

The country’s currency, the yen, has recently lost significant value, and this has put pressure on investors. The Bank of Japan raised its interest rate to 0.25% in recent months, after imposing negative or near-zero interest rates for many years.

This policy change aims to increase the value of the yen, but investment firms such as Metaplanet prefer to diversify their reserves with Bitcoin in this process. This strategy of Metaplanet is often compared to US-based MicroStrategy’s Bitcoin investments.

Metaplanet’s interest in Bitcoin is driven by Japan’s current economic conditions and the growing interest in cryptocurrencies globally. The depreciation of the yen and uncertainties in the Japanese economy increased the demand for alternative assets such as Bitcoin. Bitcoin is seen as an asset that maintains its value, especially during periods of high inflation, and this attracts the attention of institutional investors.

Just a week ago, Metaplanet announced a strategic partnership with SBI VC Trade, a subsidiary of SBI Group, one of Japan’s leading financial groups. Within the scope of this collaboration, Metaplanet will provide access to institutional custody services and financing solutions using Bitcoin as collateral.

Additionally, this partnership aims to increase compliance and tax benefits across Metaplanet’s crypto portfolio. Bitcoin’s legal status and taxation policies are among the factors that investors should pay attention to in Japan, as in many countries. This partnership with SBI VC Trade will allow Metaplanet to manage its growing Bitcoin assets more efficiently.

Metaplanet attracts attention not only with its Bitcoin purchases but also with its growth strategy. Earlier this year, the company announced plans to raise $70 million through stock rights. It was stated that 80% of these funds would be used to purchase more Bitcoin. The company’s investments in Bitcoin have generated huge returns for its shareholders.

Metaplanet’s share value has increased by 545% since the beginning of the year. This massive increase shows that the firm’s investments in Bitcoin are paying off and that Bitcoin is considered a safe haven for investors amid financial uncertainty in Japan.

Considering Japan’s current economic conditions, it is not surprising that the trend towards digital assets such as Bitcoin is increasing. Metaplanet is among the companies that turn this situation into an advantage and creates a long-term investment strategy by adopting Bitcoin as a reserve asset.

This strategy of the company can have a significant impact on Japan’s financial system and lead other companies to turn to cryptocurrency investments.