Metaplanet Emerges as Asia’s Answer to MicroStrategy with $6.5M BTC Investment

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Metaplanet teamed up with Sora Ventures to put $6.5 million into Bitcoin as part of their plan to establish “Asia’s Version of MicroStrategy.”

Metaplanet’s Strategic Shift

Metaplanet Inc., a Japanese company listed on the Tokyo Stock Exchange, announced a major change in its financial approach by incorporating Bitcoin as a key part of its treasury reserves. The company has made an initial investment of around 1 billion yen (equivalent to $6.56 million) in Bitcoin, following MicroStrategy’s lead in the US.

Simon Gerovich, CEO of Metaplanet Inc., expressed his enthusiasm for this strategic move, stating, 

I’m delighted to serve as Metaplanet’s leader as we make a daring move into the future, designating JPY 1 billion as our primary investment in Bitcoin for our company’s treasury. This decision wouldn’t have been possible without the backing of our partners and investors. I take great pride in our forward-thinking mindset and am eager to discover what the future holds for us.

A Milestone in Financial Innovation

On April 8, Metaplanet announced through social media platform X (previously known as Twitter), that this project is a significant change in their financial approach for the company. They highlighted the combination of finance and innovation as the key elements of this transition.

The firm declared, 

“Instead of merely adopting digital currencies like Bitcoin, this shift signifies Metaplanet’s commitment to spearheading the future of finance, where traditional methods merge with groundbreaking innovations. Our move towards Bitcoin marks an essential step forward in our ambition to be a trailblazer in the digital finance movement within Japan.”

Strategic Partnerships and Industry Recognition

Metaplanet gained access to the Bitcoin market through meaningful collaborations with influential figures in finance and cryptocurrency such as Sora Ventures, Mark Yusko from Morgan Creek Capital, and Jack Liu.

Jason Fang, the founder of Sora Ventures, praised Metaplanet’s latest action, referring to it as “Asia’s initial MicroStrategy-like venture.”

“Using this product, Japanese residents can access bitcoin without incurring potential unrealized capital gains taxes of up to 55%. Additionally, those with accounts at the Tokyo Stock Exchange have the opportunity to invest in bitcoin without facing any associated regulatory risks.”

Fang’s participation on Metaplanet’s board indicates a closer partnership intended to facilitate effortless access to Bitcoin for Tokyo Stock Exchange members.

Following Lead Of MicroStrategy

MicroStrategy’s position as the largest publicly traded Bitcoin owner has inspired companies like Sora Ventures to enter the digital asset market. MicroStrategy holds over 214,000 Bitcoins, currently valued at around $15.3 billion. This significant investment in Bitcoin has gained international recognition.

Metaplanet, which operates in diverse fields such as hotel development, Web3 consulting, and real estate investments, has made a strong mark on the global stage. Although its market value is much less than MicroStrategy’s at approximately 4.27 billion JPY ($28 million), the company’s stock price saw an impressive increase of 90% following the news of their Bitcoin investment.

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2024-04-09 14:25