As a seasoned investor with a keen eye for opportunities, I’ve been closely watching the crypto market’s evolution, especially in Asia. The recent move by Metaplanet to invest $6.7 million in Bitcoin is a clear sign that the tide is turning in favor of digital assets.
Japanese financial company Metaplanet has invested approximately 6.7 million dollars into Bitcoin, thereby increasing their Bitcoin holdings by a total of 108.99 coins in their growing cryptocurrency portfolio.
On October 11th, Metaplanet committed approximately USD 6.7 million, or ¥1 billion, towards purchasing Bitcoin (BTC). Now, the company’s cryptocurrency holdings stand at around 748.50 BTC, which translates to a current value of roughly $45.65 million.
In simple terms, this statement means that the Tokyo-based firm, originally a hotel operator but now an investment company, has made its third investment worth one billion yen into their Bitcoin holdings this month. Before this, they had already bought 108.786 Bitcoins on October 7, which increased their total Bitcoin reserves to 639.50 Bitcoins, equivalent to approximately $40.54 million at the time of purchase, according to market prices.
*Metaplanet purchases additional 108.99 $BTC* — Metaplanet Inc. (@Metaplanet_JP) October 11, 2024
On October 9th, the CEO of Metaplanet, Simon Gerovich, shared a diagram highlighting Metaplanet’s Bitcoin holdings alongside those of other global corporations such as MicroStrategy, Tesla, and Marathon Digital for comparison purposes.
“Expect us to take up more space soon alongside some Bitcoin titans!” Gerovich wrote on his X post.
According to the provided chart, Microstrategy currently owns the most Bitcoins among all companies, a total of 252,220 units. This latest addition was made on September 20, when they purchased an additional 7,420 Bitcoin.
Metaplanet is often referred to as “Asia’s equivalent to MicroStrategy” by industry experts, as the company has adopted a similar approach as the U.S-based artificial intelligence analytics firm.
Are you able to spot Metaplanet_JP within the red box positioned at the lower right-hand side of the image? We’re planning to expand and occupy a larger area alongside some prominent figures in the bitcoin community!
— Simon Gerovich (@gerovich) October 9, 2024
In May 2024, Metaplanet disclosed plans to expand their Bitcoin investments, as Japan faced mounting public debt, unfavorable real interest rates, and a depreciating yen.
To ensure we stay on track with our mission, we’ve teamed up with QCP Capital, a digital asset trading firm based in Singapore, and SBI VC Trade, a trading firm from Japan.
The Japanese investment company transferred 223 contracts valued at $62,000 for put options to a Singaporean firm, yielding Metaplanet a gain of approximately 23.97 Bitcoins in option premium. In addition, Metaplanet’s alliance with SBI VC Trade provides the company with corporate custody services and financing solutions using Bitcoin as security.
It’s not just Metaplanet that’s considering crypto investments; a survey conducted by Nomura and Laser Digital in June reveals that more than 500 Japanese investment managers are expressing an interest in investing in digital assets.
Approximately half of the participants indicated they’re receptive to employing stablecoins for both settling obligations and performing everyday transactions.
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2024-10-11 14:32