Metaplanet Inc., a Japanese investment firm, has reaffirmed its commitment to Bitcoin as a strategic treasury reserve asset by announcing plans to purchase an additional 1 billion yen (approximately $6.26 million) worth of Bitcoin. This move comes after the company's board of directors approved the plan, which will be funded through a bond issuance.

The upcoming bond sale, scheduled as the second series of ordinary bonds with guarantees, aims to raise capital for the Bitcoin purchase. The bonds will have an annual interest rate of 0.5% and mature on June 25, 2025. Metaplanet has explicitly stated that the funds raised will be used solely for buying Bitcoin, with the payment date set for June 26, 2024.

This development follows Metaplanet's earlier Bitcoin purchases, totaling 250 million yen (around $1.58 million) in early June. The company has been steadily accumulating Bitcoin since April, with its total holdings now exceeding 141.07 BTC. Metaplanet's average purchase price per Bitcoin stands at approximately 10.27 million yen ($65,300).

The investment firm's decision to adopt Bitcoin as its strategic treasury reserve asset reflects its belief in the cryptocurrency's resilience as a store of value compared to fiat currencies. This move aligns with a growing trend among institutions seeking alternative assets for treasury management.

Following the announcement, Metaplanet's stock price surged over 12% in early Monday trading, indicating market approval of the company's Bitcoin strategy. As the firm continues to expand its Bitcoin holdings, it solidifies its position as a pioneer in institutional cryptocurrency investment.