Japan's Metaplanet Buys Another $26M in Bitcoin Amid Tariff Market Uncertainty
Metaplanet, a Tokyo-listed firm, has acquired an additional 319 BTC for approximately 3.78 billion yen ($26.3 million), bringing its total Bitcoin holdings to 4,525 BTC. The company's aggressive accumulation strategy comes amidst uncertainty in the U.S. tariff market, particularly regarding trade tensions with China. CEO Simon Gerovich announced plans to expand its holdings to 10,000 BTC by the end of the year, reflecting a commitment to utilize effective capital market tools for this purpose. This move follows a trend seen in other firms influenced by Michael Saylor's MicroStrategy, which has also been accumulating Bitcoin. The announcement coincides with fluctuations in Bitcoin's value, which saw a decline of over 2%, trading at around $83,482 amid conflicting signals from U.S. trade policy. Metaplanet's strategy positions it as a leading entity in the Bitcoin treasury space in Asia, highlighted by its recent addition of Eric Trump to its advisory board, emphasizing the firm’s focus on Bitcoin as a core asset.
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