Deniz 
After revealing it had bought more bitcoin, Japanese investment company Metaplanet Inc. saw a 21% increase in stock price on Monday morning trading.
The Tokyo-listed company revealed today that it acquired an extra 20.381, or roughly 200 million yen ($1.27 million), therefore boosting its overall bitcoin reserves to 245.992 BTC.
Metaplanet claimed that with its most recent acquisition, it had finished its initial strategy revealed on June 24 to buy 1 billion yen worth of bitcoin. Google Finance reports that the stock of Metaplanet rose nearly 21% during the morning session.
The corporation declared in May that it now considered bitcoin to be its strategic treasury reserve asset. “The move is a direct response to sustained economic pressures in Japan, notably high government debt levels, prolonged periods of negative real interest rates, and the consequently weak yen,” the firm stated at the time.
Over the last few months, Metaplanet has bought several bitcoins. Metaplanet bought bitcoin on April 23, May 10, June 11, July 1, July 8, and July 16, according to data from Bitcointreasuries.net. The company also mentioned that each bitcoin acquisition price on average was 9.96 million yen (approximately $63,250) across all of its holdings.
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