Metaplanet's stock jumped 12% after the Japan-based investment firm decided to expand its Bitcoin (BTC) holdings. Earlier this month, the company committed to investing 500 million yen, which is about $3.4 million, into Bitcoin.

Japan is really stepping up as a leader in cryptocurrency adoption. With the yen losing value and government officials issuing warnings, more investors are looking to digital assets as a safe bet.

On August 8, Metaplanet sent out a commitment letter announcing plans to buy Bitcoin worth 1 billion yen. The latest purchase fulfills that promise. The firm bought 57.273 BTC at an average price of 8,730,117 yen per token. Now, Metaplanet's total Bitcoin holdings have reached 360.368 BTC, with an average purchase price of 9,573,556 yen per BTC.

As BeInCrypto reported, the firm had previously purchased 20.195 BTC valued at $1.02 million in early July. This made it Japan’s largest corporate holder of Bitcoin. The latest acquisition just strengthens that position even more, showing how crypto adoption is rising in the country.

Metaplanet credits its interest in Bitcoin to MicroStrategy. CEO Simon Gerovich pointed out that Michael Saylor has been a key influence on their strategy. Since April 2024, Metaplanet has been steadily increasing its Bitcoin holdings. Gerovich expressed how honored he was to meet Saylor in Nashville ahead of the Bitcoin conference, thanking him for inspiring Metaplanet to adopt a Bitcoin standard.

The firm’s strategy also includes a $1.6 million BTC purchase on June 11, followed by a commitment on June 24 to acquire an additional $6 million worth of Bitcoin through bond issuance. MicroStrategy's approach has inspired many other companies beyond Metaplanet, as businesses across different sectors increasingly incorporate Bitcoin into their investment plans.

In July, Metaplanet announced that holding Bitcoin long-term had become its main strategy. This shift is part of a broader effort to reduce exposure to Japan’s weakening currency, the yen, while offering Japanese investors access to crypto with a favorable tax structure.

Recently, BitMex CEO Arthur Hayes suggested that the Federal Reserve might use unlimited dollar-yen swaps to stabilize the yen's decline. Despite the Bank of Japan's (BOJ) tough stance, the currency remains volatile. Economist Kazutaka Maeda from Meiji Yasuda Research Institute stated, “We support the BoJ’s view and it bodes well for further rate hikes, although the central bank would remain cautious as the last rate increase caused a sharp spike in the yen.”

Japanese Economy Minister Yoshitaka Shindo mentioned that the yen is expected to recover gradually, and incomes should improve. He emphasized the government’s commitment to working closely with the BOJ on flexible macroeconomic policies.

With the yen facing major challenges, investors may look for alternative assets to protect their wealth. Bitcoin, seen by some as a store of value, is one such option. Metaplanet’s choice to adopt BTC as a reserve asset reflects its strategy to manage risks from Japan’s debt burden and the yen’s volatility.