TechFlow news, according to TheBlock, Metaplanet, a Tokyo-listed cryptocurrency investment and advisory firm, announced today that it will adopt Bitcoin as its strategic financial reserve asset to address Japan's ongoing economic adversity.
"This move is a direct response to the persistent economic pressures facing Japan, particularly high levels of government debt, prolonged periods of negative real interest rates, and the resulting yen weakness," the company said in a statement.
Metaplanet added in the statement that it aims to utilize the "full range of capital market instruments" to increase its Bitcoin holdings. According to data from Bitcointreasuries.net, the company held 117.7 BTC (worth $7.2 million) as of May 10.
Add to Favorites
Share to Social Media
