This public Japanese firm has added Bitcoin as its reserve asset.

Bitcoin continues to gain mainstream adoption as major corporations and industry top dogs incorporate the digital asset into their long-term financial strategies.

Metaplanet, a Japanese investment and consulting firm listed on the Tokyo Stock Exchange, is the latest company to take such a dramatic step.

Metaplanet owns the Bitcoin Reserve

According to an official release, Metaplanet has adopted Bitcoin in its treasury management system, making the cryptocurrency its reserve asset. The company prioritizes a Bitcoin-first, Bitcoin-only approach, using long-term Japanese yen (JPY) debentures and current stock issues as financing options to continuously buy more BTC.

“Metaplanet views bitcoin as superior to any and all forms of political currency, traditional stores of value and investments, and all other crypto-assets/securities. Bitcoin is an absolutely finite digital synthetic monetary commodity with no central problem,” the company said.

Metaplanet's announcement comes nearly a month after the company invested one billion JPY ($6.5 million) into BTC, marking its move into a mainstream crypto asset.

The investment and advisory firm said the move was a response to economic pressures on Japan, including a weak yen, long-term negative interest rates and high government borrowing. Metaplanet's new approach will increase in BTC per share, increasing long-term shareholder value.

Japanese yen struggle

Japan's challenging economic landscape saw the yen fall to a 34-year low a few weeks ago, a 50% decline against the USD over the past decade. According to Metaplanet, the country's unsustainable financial trajectory indicates an increasing rate of financial ruin in the future.

In addition, Metaplanet reported that Japan's debt-to-GDP ratio is 261 percent, the highest among developed countries. Bank of Japan In 2016, it artificially suppressed borrowing costs by implementing negative interest rate policy and printing yen to buy government bonds.

“This weakness is obvious to all market participants and for the time being it is covered only by sudden interventions from the BoJ in the government bond and foreign exchange markets,” the company added.

Metaplanet's Bitcoin strategy further strengthens its balance sheet against the yen's devaluation, positioning the company as a BTC-focused investment vehicle.