Tokyo-listed Metaplanet Inc. said on 25 Aug it bought an additional 103 Bitcoin for roughly ¥1.74 billion (about $11.8 million), extending a treasury strategy that has turned the former hotel operator into one of Asia’s largest corporate holders of the cryptocurrency. The latest purchase lifts Metaplanet’s stash to 18,991 BTC, valued at about $2 billion to $2.2 billion at current prices. The company has invested an estimated ¥285.8 billion to build the position and aims to keep expanding its balance-sheet exposure to the digital asset. Separately, FTSE Russell’s semi-annual review raised Metaplanet from small-cap to mid-cap status and will add the shares to the FTSE Japan and FTSE All-World indices after the close of trade on 19 September. Inclusion is expected to attract passive inflows from index-tracking funds, giving traditional equity investors indirect exposure to Bitcoin price movements. Metaplanet has funded its buying spree through share-warrant exercises and other capital-raising tools, and has signalled a long-term goal of amassing as much as 210,000 BTC by 2027. Analysts say the index promotion highlights growing acceptance of Bitcoin-heavy balance sheets but could also heighten volatility for passive investors if cryptocurrency prices swing sharply.