Japanese investment firm Metaplanet has announced its plan to issue 5 billion yen (approximately $31.9 million) in bonds to purchase more Bitcoin, emulating the strategy of MicroStrategy, the leading corporate holder of Bitcoin. This latest move brings the total funds raised for Bitcoin acquisitions to nearly $61 million. Despite this endeavor, shares in Metaplanet dipped nearly 3% on Tuesday, signaling potential skepticism from investors regarding the company's Bitcoin strategy. Metaplanet has characterized itself as a 'Bitcoin treasury company' and asserts its commitment to pioneering the Bitcoin ecosystem in Japan. The firm initially purchased Bitcoin in April with a transaction valued at 1 billion yen. As a publicly-traded entity on the Tokyo Stock Exchange, it aims to mirror MicroStrategy's aggressive Bitcoin holdings, which currently exceed $41 billion. Current Bitcoin prices are fluctuating around $96,846, following a sharp decrease after Federal Reserve Chairman Jerome Powell's recent remarks on interest rates.

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