Metaplanet Inc., a crypto investment and consulting firm listed in Tokyo, has chosen Bitcoin as its strategic treasury reserve asset amid ongoing economic challenges in Japan.
In a statement released on Monday, the company explained:
“The adoption of bitcoin is a direct response to continuous economic pressures in Japan, including high levels of government debt, extended periods of negative real interest rates, and a consequently weakened yen.”
Japan is facing significant economic hurdles, currently holding the highest government debt-to-GDP ratio among developed nations at 254.6%, as reported by the International Monetary Fund.
This fiscal strain has seen the Japanese yen fall to its lowest value in 34 years last month, despite the government’s efforts to stabilize the economy by raising interest rates in March, according to a Reuters report.
