Metaplanet Increases Bitcoin Holdings by Acquiring Another 20 BTC, Total Now 161 BTC
Metaplanet, a prominent Japanese investment firm likened to “Asia’s MicroStrategy,” has recently disclosed its acquisition of 20.2 Bitcoin. This move forms part of its ongoing strategy to bolster its BTC holdings, with the company investing 200 million yen (equivalent to $1.2 million) in this latest purchase. As a result, Metaplanet’s total Bitcoin holdings now stand at 161.3 BTC.
The announcement came shortly after the closing of the Tokyo Stock Exchange trading session, with Metaplanet promptly sharing the news on its social media channels.
This acquisition follows closely on the heels of Metaplanet’s decision to allocate $6 million towards expanding its Bitcoin portfolio, financed through a recent bond sale. The firm plans to categorize these newly acquired Bitcoins under long-term holdings, recorded at acquisition cost and exempt from taxation based on end-of-term market value assessments. Meanwhile, other Bitcoin holdings will undergo quarterly evaluations at market prices, with gains or losses from these evaluations reflected in non-operating income or expenses.
Metaplanet first revealed its adoption of Bitcoin as part of its treasury assets strategy back in April. The decision was driven by various factors including a desire to reduce exposure to the fluctuating Japanese yen amid the country’s low-interest-rate environment. Additionally, Metaplanet views Bitcoin as a potential hedge against inflation, a tool for macroeconomic resilience, and a source of long-term capital appreciation.
Since incorporating Bitcoin into its reserves, Metaplanet has seen positive impacts on its share performance. The firm’s approach to accumulating Bitcoin mirrors that of MicroStrategy, a Virginia-based software developer known for its substantial BTC holdings, currently exceeding 226,000 BTC.
The trend towards Bitcoin adoption among corporate treasurers has gained traction amidst ongoing macroeconomic uncertainties, characterized by rising inflationary pressures and geopolitical tensions. According to digital asset prime services platform Abra, non-crypto-native businesses are increasingly exploring Bitcoin as a reserve asset for their balance sheets. Abra recently launched services tailored to corporate clients interested in holding cryptocurrencies, reflecting growing interest among small to medium-sized business owners, particularly in real estate, to leverage BTC for treasury purposes or to secure financing for business and real estate ventures.
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