Tokyo-based investment firm Metaplanet Inc. plans to acquire 1 billion yen ($6.3m) worth of Bitcoin.

The acquisition will be funded by a recent bond sale.

This move is part of Metaplanet's 'Bitcoin-first, Bitcoin-only approach' to hedge against the weakening Japanese yen.

Metaplanet's total Bitcoin holdings have increased to over 240 BTC ($15m).

The firm saw a 14% increase in stock price on Monday.

Metaplanet's strategy of integrating Bitcoin into its treasury assets is garnering significant attention.

Despite notable moves, Metaplanet does not hold as much Bitcoin as MicroStrategy.