#MetaplanetBTCPurchase Metaplanet Expands Its Bitcoin Holdings in Strategy Against Weak Yen

(Tokyo, July 10, 2024)

The Japanese investment company Metaplanet (listed on the Tokyo Stock Exchange under the symbol: 3350) announced the purchase of an additional 23.35 Bitcoins on July 10, 2024, with an investment of approximately 200 million Japanese yen (equivalent to about 1.24 million USD).

#### Key Figures:

- Total Current Holdings: 161.3 Bitcoins (with a market value estimated at around 10.3 million dollars). A Japanese company joins the Bitcoin revolution!

The publicly traded Metaplanet has announced that it has purchased a new amount of $BTC as part of its strategy to protect capital from the weakening Japanese yen 📉

📌 Deal Details:

Purchase worth approximately 1.6 million dollars

Bitcoin used as a long-term treasury asset

The move is similar to what MicroStrategy did previously

📈 Why is this important?

It shows that Bitcoin adoption is expanding outside of America

It reinforces the idea of $BTC as "digital gold" in corporate balance sheets

Do you think other companies in Asia will follow the same step? Yoshi's Analysis ⬇️

Bitcoin started in the early hour in a slow retracement pattern, dropping to around 104400, then bouncing back slightly to around 105000 and fluctuating around it. Technically, despite a slight rebound after breaking support in the middle, the strength was weak, and it was clear that the selling pressure from above was heavy.

Operational Recommendations

Bitcoin has rebounded for how long