$BTC Japanese company Metaplanet has once again increased its Bitcoin (BTC) holdings, which is a growing signal of institutional adoption. Metaplanet recently purchased Bitcoins worth approximately $1.6 million, which they also publicly announced. This increases their BTC portfolio to about 117 BTC, which is approximately $12.3 million in total value.

They took this step as a hedge against global inflation and the devaluation of fiat currency — just like MicroStrategy, which is already implementing a similar strategy of accumulating Bitcoins in the U.S.

This aggressive approach to acquiring Bitcoins by Metaplanet is creating a new trend in Japan's corporate sector. As traditional Japanese companies begin to show trust in digital assets, it impacts both the price of BTC and investor confidence.