$BTC

Metaplanet is a Japanese investment company that recently decided to convert a large portion of its assets into Bitcoin, specifically by purchasing large quantities of the cryptocurrency [1, 3]. The company aims to become one of the largest holders of Bitcoin among public companies.

Additional Explanation:

The Shift Towards Bitcoin:

Metaplanet began selling most of its real estate assets while retaining one property in Tokyo, and converting the proceeds from the sales to purchase Bitcoin.

Purchase Plan:

The company announced plans to raise $5.4 billion to increase its Bitcoin holdings, aiming to reach 210,000 Bitcoin by 2027 [2, 3].

Comparison to MicroStrategy:

Metaplanet follows a similar strategy to that of MicroStrategy, an American company that is converting a large portion of its treasury to Bitcoin, which sometimes makes Metaplanet referred to as "MicroStrategy of Japan" [1, 3].