Japanese company Metaplanet has revealed plans to acquire 1 billion yen (approximately $6.5 million) worth of Bitcoin as part of its corporate treasury strategy, following in the footsteps of MicroStrategy’s notable Bitcoin accumulation.
Listed on the Tokyo Stock Exchange, Metaplanet is a diversified enterprise that announced its Bitcoin purchase initiative on X, citing concerns about hedging risks associated with currency devaluation and inflation.
Described as an “initial commitment,” the Bitcoin acquisition is just one aspect of Metaplanet’s broader adoption of Bitcoin’s potential. Notable partners supporting this move include hedge fund manager Mark Yusko, UTXO Management, and Sora Ventures.
By adopting a Bitcoin treasury reserve akin to MicroStrategy’s strategy, Metaplanet aims to leverage Bitcoin’s growth potential while mitigating associated risks. MicroStrategy, a pioneer in this approach, has amassed over $6 billion worth of BTC since 2020.
Following the Bitcoin announcement, Metaplanet’s stock price surged by 89.47% on Tuesday, showcasing the immediate impact of the news.
Jason Fang from Sora Ventures referred to Metaplanet as “Asia’s first MicroStrategy,” highlighting its focus on Bitcoin.
This move not only provides Japanese investors with indirect exposure to Bitcoin but also offers tax advantages, as Metaplanet’s Bitcoin funds will be held in a tax-efficient structure accessible only to the company.
Metaplanet’s adoption of Bitcoin reflects a broader trend among public companies seeking to maximize shareholder value through cryptocurrency investments, with MicroStrategy’s success serving as a testament to the effectiveness of this strategy.
Beyond investment gains, Bitcoin presents Metaplanet with opportunities for accelerating its Bitcoin-related initiatives, signaling a bullish outlook for Bitcoin’s acceptance and adoption in Asia.
Metaplanet’s move sets a regulatory framework for investors to gain Bitcoin exposure, potentially paving the way for more companies in the region to follow suit.