Metaplanet Inc, a publicly traded Japanese firm aiming to replicate MicroStrategy's success in Asia, has obtained an additional amount of Bitcoin. In an announcement, the firm revealed its acquisition of 18.8698 BTC.

This purchase, completed on April 23, amounted to 200 million yen ($1.2 million). Consequently, the firm now holds a total of 117.7217 Bitcoin, valued at 10,193,536 yen per BTC - equating to 1.2 billion yen or $7,708,020.

The trend that Metaplanet initiated by acquiring Bitcoin resonated in the investment world of Asia. This trend mirrors the one that started in the United States in August 2020, when MicroStrategy made its first Bitcoin purchase. Today, MicroStrategy ranks as the second-largest corporate holder of Bitcoin following BlackRock Inc.

Under the guidance of Chairman Michael Saylor, MicroStrategy consistently accumulates Bitcoin. Its most recent acquisition occurred in March when 12,000 BTC were bought for $821.7 million. Presently, the firm owns 214,246 tokens worth approximately $14 billion. As previously reported by U.Today, MicroStrategy's unrealized profit from its Bitcoin investment now stands at $6.2 billion.

MicroStrategy's bold strategy involves selling Convertible Senior Notes and channeling the funds into the asset. This approach has proven successful, although it remains uncertain how long Metaplanet intends to implement a similar strategy.

Despite a decline in the price of BTC since Metaplanet entered the Bitcoin market amid turbulent selloffs, the market has witnessed a return of bullish sentiment following reports of new mainstream companies entering the Bitcoin space. As of the current moment, the cryptocurrency is experiencing a slight recovery, rising by 3.14% in 24 hours to $62,907.50. By emulating MicroStrategy's methods, Metaplanet is likely to achieve promising returns in the long run.