This investment, made on October 11, increased the firm’s total assets in cryptocurrency to 748.50 BTC, which has a current market value of around $45.65 million.

This investment was recorded as the third 1 billion yen Bitcoin investment made this month for the Tokyo-based hotel operator and investment firm.

Previously, Metaplanet acquired 108,786 BTC on October 7, increasing its total Bitcoin reserves to 639.50 BTC (approximately $40.54 million based on market prices at the time).

Simon Gerovich, CEO of Metaplanet, shared a chart on the X platform on October 9 comparing the firm’s Bitcoin reserves with other major companies such as Microstrategy, Tesla and Marathon Digital. In this post, Gerovich said, “You will see us in more areas with Bitcoin giants soon!” he said.

In the chart, Microstrategy, the company with the largest Bitcoin reserves, has reached a total of 252,220 BTC since its last purchase of 7,420 BTC on September 20. This shows that Metaplanet’s growing Bitcoin reserves have increased noticeably.

Following in the footsteps of the US-based MicroStrategy, Metaplanet became known as the “MicroStrategy of Asia”. The company announced in May 2024 that it would diversify its Bitcoin holdings in order to combat Japan’s high government debt levels, negative real interest rates and a weakening national currency.

One of the steps Metaplanet has taken to achieve this goal is a partnership with Singaporean digital asset trading firm QCP Capital. This partnership aims to increase Metaplanet’s effectiveness in the digital asset market.

The Japanese investment firm sold 223 put options worth $62,000 to QCP Capital, bringing 23.97 BTC to Metaplanet. Additionally, Metaplanet’s partnership with SBI VC Trade offers the firm institutional custody services and financing options using Bitcoin as collateral.

Metaplanet is not alone in investing in cryptocurrencies. More than 500 investment managers in Japan are expressing interest in digital asset investments, according to a June survey by Nomura and Laser Digital. The survey states that almost 50% of respondents are open to using stablecoins for payments and daily transactions.

With high debt levels in Japan and a weakening yen, investors are turning to alternative assets. Metaplanet’s Bitcoin investments stand out as part of this trend.

The company states that it may consider other digital assets as well as Bitcoin in its future investments. These steps taken by Metaplanet serve as an important example for wider acceptance and integration in the cryptocurrency world.

The increase in Metaplanet’s Bitcoin reserves and the company’s strategy towards cryptocurrencies could increase investor interest in digital assets in Japan. This is considered a positive development not only for Metaplanet, but also for the cryptocurrency ecosystem in Japan in general.