Japanese publicly traded company Metaplanet announced today in a tweet that they have once again increased their holdings of 23.35 bitcoins (BTC). As of now, the company holds a total of 141.07 bitcoins, with a current market value of approximately 9.6 million US dollars.
According to a previous report by Zombit, Metaplanet is an early-stage investment company that has shifted its focus away from Web3 businesses and now exclusively concentrates on bitcoin and commercial real estate. The company plans to hold bitcoin long-term to minimize realized taxable gains. They also intend to engage in strategic currency arbitrage using their existing cash reserves and excess cash flow from holding assets, and to acquire more bitcoins through issuing long-term Japanese yen liabilities when opportunities arise.
