Japanese investment firm Metaplanet has been on an aggressive Bitcoin buying spree. Earlier this week, it announced adding 21.877 BTC to its stash, bringing its total holdings to 225.611 BTC.

At the current price, the Tokyo-listed company now holds Bitcoins worth almost $14.8 million. This investment strategy appears to have paid off as Metaplanet experienced an incredible surge in its shares this year, with a major boost recorded in May after the company announced tapping Bitcoin.

Metaplanet’s Bitcoin Strategy Pays Off

Following a series of acquisitions, Metaplanet has cemented its position as the 21st largest corporate BTC holder globally, according to CoinGecko.

The markets response to this news appears to have been overwhelmingly positive. According to data compiled by Google Finance, Metaplanets shares traded under the ticker 3550 on the Tokyo Stock Exchange climbed 60% to ¥145 over the past five days. In the past 24 hours alone, the shares have soared nearly 16%, bringing the year-to-date gains to over 800%.

It was in May this year that the company first announced that it would be holding Bitcoin as its strategic treasury reserve asset.

Despite this, data from Bitcointreasuries.net revealed that Metaplanets initial Bitcoin acquisition occurred on April 23rd when it purchased 97.85 BTC. Subsequent purchases included 19.87 BTC on May 10th, 23.351 BTC on June 11th, 20.195 BTC on July 1st, 42.46 BTC on July 8th, and the most recent acquisition of 21.877 BTC on July 16th.

Metaplanets Ambitious Bitcoin Pivot

Metaplanets strategy is reminiscent of MicroStrategys Bitcoin accumulation tactics.

Dubbed Asias MicroStrategy, the firm often follows the same investment strategies as the American business intelligence firm. Financing its Bitcoin buys through bond sales, Metaplanet’s approach highlighted the growing trend of institutional BTC adoption.

It is important to note that Japans ongoing economic issues, including substantial government debt, enduring negative real interest rates, and a persistently weakened yen, have influenced Metaplanets move to invest in Bitcoin.

The company had previously said that it views the crypto asset as fundamentally superior to any other forms of political currency, traditional stores of value and investment, and all other crypto assets/securities.

Bitcoin is an absolutely scarce digital synthetic monetary commodity, with no central issuer. Bitcoins monetary policy is rigidly set in stone through 2140, setting it apart from both monetary metals and competing crypto projects operated at the whims of centralized developer teams. There will only ever be 21,000,000 bitcoins.