Metaplanet Expands Bitcoin Holdings by Purchasing 20.195 BTC

by

As a crypto investor with experience in following the Japanese market, I’m excited about Metaplanet’s latest acquisition of 20.195 bitcoins. Their strategic move to diversify treasury securities and accumulate more BTC is a smart response to Japan’s high government debt and negative real rates. With their stock trading at 3350 and a gain of over 233% since they began purchasing bitcoin, this investment seems to be paying off.

Metaplanet, a Tokyo investment advisory firm, has bought an extra 20.195 Bitcoins for around $1.2 million, bringing their total Bitcoin holdings to approximately 161.2677 BTC, now worth over $10.1 million. The purchase, made post-Tokyo Stock Exchange closure on Monday, aims to boost their Bitcoin accumulation.

*Metaplanet purchases additional 20.20 $BTC* — Metaplanet Inc. (@Metaplanet_JP) July 1, 2024

Metaplanet’s board announced on June 24 their approval to use funds from an upcoming bond sale to buy approximately $6.3 million worth of bitcoin. This decision comes as part of the company’s strategy to diversify its treasury securities, given Japan’s significant government debt and negative real interest rates. Metaplanet is often referred to as ‘Asia’s MicroStrategy,’ actively pursuing this approach.

Metaplanet’s stock was priced at 3350, marking a 1% rise, and representing a significant gain of over 233% since initiating its bitcoin purchases. Adopting a similar approach to MicroStrategy in the US, Metaplanet has been investing heavily in bitcoin as part of its treasury reserves, aiming to shield against potential losses with the unstable yen, and pursuing robust returns in the long term.

As a crypto investor, I’ve noticed an intriguing trend emerging in the business world. According to Abra, a leading digital asset prime services platform, there’s growing curiosity among non-crypto businesses, particularly those in real estate, to explore the use of Bitcoin for their treasury functions or even securing financing using this digital currency.

Read More

2024-07-02 02:29