Metaplanet Inc. acquired an additional $1.6 million worth of Bitcoin, increasing total holdings to $9.4 million.

The acquisition was a strategic response to Japan's high debt burden and yen volatility.

Metaplanet's stock surged by 10% following the announcement.

The company has acquired a total of 141.07 BTC at an average price of $65,365 per Bitcoin.

Metaplanet aims to use Bitcoin as a treasury reserve asset, similar to MicroStrategy's strategy.

This move reflects a broader trend of companies hedging against inflation and currency devaluation.

Metaplanet plans to leverage capital market instruments to bolster its cryptocurrency reserves.

The firm also aims to expand access to U.S. investors in the future.

This marks a significant transformation for the company in response to evolving investment trends and economic challenges in Japan.