menu
search

Blogs & Articles: Metaplanet Acquires Additional ¥250 Million in Bitcoin 🔗 14 days ago

BTC Times

Metaplanet Acquires Additional ¥250 Million in Bitcoin

Japanese firm Metaplanet announced a ¥250 million Bitcoin purchase, following MicroStrategy's strategy.

The hotel and services provider revealed on X that it has acquired an additional ¥250 million ($1.8 million) worth of Bitcoin. 

*Metaplanet purchases additional 23.35 $BTC* pic.twitter.com/Wj5AZjVNvq

— Metaplanet Inc. (@Metaplanet_JP) June 11, 2024

This latest purchase is part of Metaplanet's strategy to emulate MicroStrategy's well-known approach to corporate Bitcoin accumulation.

As of June 11th, Metaplanet holds around 141 Bitcoin, acquired for a total of ¥1.45 billion at an average price of ¥10,278,391 ($65,000) per Bitcoin. 

The company began using Bitcoin as its treasury reserve asset in April 2024 with an initial investment of ¥1 billion and has made multiple purchases since then.

Following the announcement of this latest Bitcoin acquisition, Metaplanet's stock price surged by 10%. 

This marks the third substantial Bitcoin purchase by the company in just seven weeks, and its share price has increased nearly fivefold since first announcing its Bitcoin strategy in April, proving the effectiveness of its approach.

By investing in Bitcoin, Metaplanet aims to protect itself against Japan's significant national debt and the rapidly depreciating yen. 

The company is closely following the example set by MicroStrategy's influential Bitcoin corporate treasury strategy.

For Japanese investors, owning shares in Metaplanet offers exposure to the potential gains of Bitcoin without the heavy tax burden on unrealized crypto gains in Japan, which can exceed 50%. 

Additionally, Metaplanet provides a way to invest in Bitcoin without facing regulatory challenges by trading on the Tokyo Stock Exchange.

The adoption of Bitcoin by public companies in Asia, such as Metaplanet, further strengthens Bitcoin's reputation as a reliable treasury reserve asset.

Feel free to send a tip using tippin.me

Or alternatively you can send a few sats directly:

btc logo BTC ln logo BTC (Lightning)

btc tip qr

33ELQ1ye29gB6YVQY6zRLFVCNYkJez9jMh

lightning tip qr

lnurl1dp68gurn8ghj7cm0d9hxxmmjdejhytnfduhkcmn4wfkz7urp0yhn2vryv5ukvdm995ckydph956rvv3h94sk2dny95mkgv34xdsnvvrpv4jxz6whyrn