Metaplanet, a Japanese company, has made a significant move in the cryptocurrency market by purchasing 23.351 BTC, worth approximately $1.59 million, bringing its total BTC holdings to 141.07, valued at $9.6 million. This bold move has triggered a remarkable 10.8% price surge in its publicly traded shares, making it the 30th largest corporate bitcoin holder.

The Tokyo-based company, dubbed Asia's MicroStrategy, has been actively expanding its bitcoin reserves. Its latest purchase was made at an average price of 10.27 million Yen, equivalent to about $65,365. This follows two previous acquisitions of 97.85 BTC and 19.87 BTC on April 23 and May 10, respectively. Despite holding a small fraction of BTC compared to giants like MicroStrategy, Metaplanet's stock has jumped by about 10% following the announcement of its new BTC acquisition.

Metaplanet's bitcoin investment strategy, unveiled on April 9, has been met with investor approval, as its stock has hiked by about 368% from a low of 19 Yen to the current 89 Yen. The company's decision to invest in bitcoin is driven by its potential to hedge against Japan's surging international debt burden and the rapid depreciation of the Yen. With a debt-to-GDP ratio of 261, Japan has the highest debt burden among developed countries. Moreover, the Yen has depreciated by about 35% against the USD since January 2021, while BTC has appreciated over 200% against the Yen in the past year alone.

As the most prominent cryptocurrency, bitcoin has been trading slightly above $67K, with Metaplanet's bitcoin exposure boasting an unrealized profit of about 2.5%. This profit comes despite BTC trading a few thousand below its all-time high of $73K. Metaplanet plans to continue expanding its bitcoin reserve, following in the footsteps of MicroStrategy, which has also seen significant profits. Saylor Tracker data reveals that MicroStrategy has an unrealized profit of nearly $6.5 billion on its BTC exposure.

The trend of corporate investors reaping rewards from bitcoin investments extends beyond Metaplanet and MicroStrategy. Canada's DeFi Technologies recently added 110 BTC to its treasury, causing an 11% spike in stock prices. As the cryptocurrency market continues to evolve, it's clear that Metaplanet's bitcoin investment has paid off, and the company is well-positioned to reap further rewards in the future.