New Delhi, July 3 -- TOKYO - The same day JPMorgan Chase analysts warned that Strategy's policy of selling bitcoin to cover dividend payments was introducing unnecessary market risk, Japan's Metaplanet quietly announced the largest single acquisition in its brief history as a corporate bitcoin accumulator.

The Tokyo-listed firm disclosed Wednesday the purchase of 2,823 BTC for $170.7 million, bringing its total treasury to 43,000 bitcoin worth approximately $2.6 billion. The timing was coincidental. The contrast was not.

Metaplanet, listed on the Tokyo Stock Exchange under ticker 3350, now ranks as the third-largest publicly traded bitcoin holder in the world, trailing only Strategy - the company formerly known as MicroStrategy - and Tw...