Japanese fashion firm ANAP has made a significant move by investing 10 billion Yen, approximately $70 million, in Bitcoin as part of its new investment strategy.

This investment reflects a broader trend in Japan, where companies are increasingly recognizing Bitcoin as a viable asset.

ANAP joins other firms, such as MetaPlanet, which has also adopted a Bitcoin strategy, issuing $10 million in zero-interest bonds to fund further Bitcoin acquisitions.

ANAP's decision, approved by its Board of Directors, underscores the company's view of Bitcoin as a significant international asset, comparable to the US Dollar and gold.

The growing investments in Bitcoin by prominent firms indicate increasing institutional confidence in its value as a reliable store of wealth.

In the U.S., MicroStrategy, led by Michael Saylor, stands out as the largest public company holding Bitcoin, with 531,644 BTC purchased for over $35.9 billion.

MicroStrategy's substantial Bitcoin reserves, acquired at an average price of $67,556 per coin, highlight the rising institutional interest in cryptocurrency.

Following ANAP's investment, crypto analyst Titan of Crypto noted potential short-term price targets for Bitcoin at $85,500 and $86,400, while cautioning about possible price fakeouts.

Titan of Crypto also mentioned that if the weekly 50 EMA holds, Bitcoin could potentially rally to $123,000 on this upward bounce.

Despite the optimism, Titan of Crypto warned that the current price movements could lead to false breakouts.