As a seasoned researcher with a keen eye for trends and a knack for spotting opportunities, this recent move by Metaplanet piques my interest. Japan, known for its tech-savvy population and forward-thinking economy, is clearly embracing cryptocurrencies in a big way. The strategic decision by Metaplanet to invest heavily in Bitcoin, following in the footsteps of MicroStrategy, suggests a shift in the Japanese investment landscape that could potentially reshape the global financial sphere.
Japan’s former budget hotel company-turned investment firm, Metaplanet, has invested approximately 750 million yen (equivalent to $6.94 million) in Bitcoin, expanding its cryptocurrency portfolio.
As per its October 1 disclosure, Metaplanet has made a significant investment by buying an extra 107.913 Bitcoins (BTC) worth approximately ¥1 billion ($6.94 million). This is one of the company’s largest single Bitcoin purchases on record. With this latest acquisition, Metaplanet now holds approximately 506,745 Bitcoins, which currently have a total value of $32.45 million.
*Metaplanet purchases additional 107.91 $BTC* — Metaplanet Inc. (@Metaplanet_JP) October 1, 2024
Since declaring Bitcoin as one of its reserved assets, Metaplanet has poured in approximately 4.75 billion Japanese yen, with each coin acquired priced at an average of around ¥9,373,557 ($65,000).
The company based in Tokyo chooses to expand its holdings of Bitcoin as part of a broader approach to safeguard its assets from the economic difficulties facing Japan, such as the weakening of the yen.
Starting from May 2024, Metaplanet has persisted in expanding its investments towards Bitcoin, mimicking the tactics employed by American company MicroStrategy. This has earned Metaplanet the nickname “Asia’s MicroStrategy” within the market.
Most recently, there was a transaction that mirrors a $2 million investment in our leading cryptocurrency made a month ago, which added 38.4 Bitcoins to our holdings. In August, we obtained a ¥1 billion loan from one of our shareholders, MMXX Ventures, and used ¥500 million of that to purchase an additional 57.103 Bitcoins.
Simultaneously, Metaplanet declared intentions to secure $70 million via stock issuances, promising to dedicate more than 80% of these funds toward their Bitcoin investment strategy.
By strengthening its dedication, Metaplanet has teamed up with SBI VC Trade, a subsidiary of the financial powerhouse SBI Group in Japan. This partnership aims to provide Metaplanet with compliance assurance and increased tax efficiency, along with offering corporate custody services and various financing solutions that utilize Bitcoin as security.
Japan’s growing appetite for crypto
On the same wavelength as the increasing curiosity among Japanese investment professionals regarding cryptocurrencies, Metaplanet’s Bitcoin approach is designed to cater to their interest in delving into digital asset investments, as indicated by a survey conducted in June.
In Japan, there’s talk about relaxing crypto regulations to attract greater investment in the field. According to crypto.news, the country’s Financial Services Agency plans to reassess current laws, potentially leading to lower taxes and allowing local investment funds to buy cryptocurrencies.
Previously, the Ministry of Economy, Business, and Industry granted approval for domestic investment partnerships to invest in cryptocurrencies, aligning with Former Prime Minister Fumio Kishida’s “new capitalist” policy from earlier this year.
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2024-10-01 13:45