Blogs & Articles: Metaplanet Set To Acquire an Additional ¥250 Million in Bitcoin 🔗 15 weeks ago
- Category: Blogs & Articles | BTC Times
- Author(s): Deniz Saat
- Published: 29th May 2024 04:30
Metaplanet Inc. (TSE Standard: 3350), a publicly traded company in Japan, has announced an increase in its Bitcoin holdings.
During a recent board of directors meeting, the company decided to purchase an additional ¥250 million worth of Bitcoin, equivalent to approximately $1.6 million USD.
The company has outlined its strategy for managing these Bitcoin assets. Bitcoin that are acquired for long-term purposes will be recorded at their purchase cost, ensuring consistent accounting treatment.
In contrast, Bitcoin held for short-term purposes will be revalued quarterly at market value, with any unrealized gains or losses from these holdings recorded in the non-operating income section of the income statement.
This approach aims to provide transparency and reflect market fluctuations.
This acquisition is part of a broader trend of companies globally recognizing Bitcoin as a strategic asset. Earlier this month, Metaplanet also purchased 19.87 BTC for ¥200 million.
