Metaplanet Increases Bitcoin Holdings with $2 Million Purchase

Metaplanet, a Japanese publicly traded company likened to "Asia’s MicroStrategy," has announced it has acquired an additional ¥300 million worth of Bitcoin, boosting its total holdings to about 400 BTC, or roughly $22.5 million.

This move follows the company’s Monday announcement about exercising stock acquisition rights from its 11th series, allowing executives to buy company shares at a set price. The ¥229.7 million raised from this exercise will be directed towards further Bitcoin investments.

Despite Bitcoin’s market downturn, Metaplanet remains committed to holding Bitcoin as a treasury reserve, aiming to offer domestic investors exposure and benefit from favorable tax treatments.

Earlier this month, Metaplanet partnered with SBI VC Trade, a division of SBI Group, to improve its Bitcoin trading and custody capabilities.

This collaboration will provide access to compliant custody services, enhance tax efficiency, and utilize Bitcoin as collateral for financing. SBI will support Metaplanet with trading, storage, and operational services, emphasizing Bitcoin’s role as a stable, non-political asset.

Metaplanet’s strategy reflects its commitment to Bitcoin, similar to MicroStrategy’s approach, using Bitcoin as a hedge against the yen’s depreciation and Japan’s significant government debt.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.