Metaplanet, a Japanese public investment firm, has reinforced its commitment to the long-term holding approach with a substantial Bitcoin acquisition. Metaplanet revealed the purchase of an additional 42.4 Bitcoin for ¥400 million ($2.4 million) amidst the challenging crypto market environment. The firm, based in Tokyo, emphasized that this move is in line with its strategic plan to maintain Bitcoin as a significant treasury reserve asset. With this recent purchase, Metaplanet's total Bitcoin reserves now exceed 203 BTC. This purchase comes on the heels of Metaplanet's previous investment of over $6.2 million through the issuance of bonds to bolster its long-term holding position. The bonds, facilitated by EVO FUND, carry a 0.5% annual interest rate and are set to mature in June 2025. Despite lacking collateral, Metaplanet has secured a first-priority mortgage on its subsidiary Wen Tokyo Inc.'s Hotel Royal Oak Gotanda property to safeguard its financial claims. Metaplanet initiated its Bitcoin purchases as a response to Japan's economic challenges, including high government debt, continual negative real interest rates, and a devaluing yen. A recent survey conducted by Nomura and Laser Digital indicated that a significant number of investment managers in Japan are contemplating entering the crypto market. The survey also highlighted a willingness among respondents to explore stablecoins for daily transactions and settlements.