Metaplanet boosts its Bitcoin reserves, positions itself as Asia’s MicroStrategy Metaplanet boosts its Bitcoin reserves, positions itself as Asia’s MicroStrategy
Metaplanet's total Bitcoin holdings is approximately 117.72 BTC, valued at ¥1.2 billion
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Updated: May. 10, 2024 at 11:20 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Japan-based Metaplanet has acquired additional Bitcoin, according to a May 10 disclosure statement on social media platform X.
The firm revealed that it bought 19.87 BTC on April 23 at an average price of 10.06 million yen, equivalent to $64,664 each. This purchase amounted to 200 million yen, approximately $1.28 million.
This acquisition brings Metaplanet’s total Bitcoin holdings to approximately 117.72 BTC, valued at 1.2 billion JPY or $7.7 million.
On April 8, Metaplanet committed to Bitcoin as a core treasury asset, allocating ¥1 billion, around $6.56 million, to the flagship digital asset in a significant shift in its financial strategy.
Shortly after, the firm fulfilled its commitment by purchasing 97.85 Bitcoin for 1 billion Japanese yen on April 24. It said its purchase was “not just about embracing digital assets but also about pioneering a future where finance meets innovation at its core.”
Additionally, it appointed Dylan LeClair, a staunch Bitcoin advocate, as its Director of Bitcoin Strategy. In this role, Dylan will lead the firm’s corporate Bitcoin strategy to acquire more Bitcoin in alignment with its vision.
Metaplanet is a Japanese public company offering hospitality and technology-related services. It is the first publicly traded company on the Tokyo Stock Exchange to purchase BTC.
According to Yahoo Finance data, Metaplanet’s share price increased by 3% to 30 yen following news of its BTC acquisition.
Asia’s MicroStrategy
Metaplanet’s BTC acquisitions firmly position it as the “MicroStrategy of Asia.”
MicroStrategy is the largest public holder of Bitcoin, holding more than 200,000 BTC, valued at over $13 billion. The software firm has consistently acquired its BTC as part of efforts to strengthen its balance sheet.
The company’s chairman, Michael Saylor, recently stated that the flagship digital asset was “the Best Alternative Investment.”
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
Metaplanet
Metaplanet Inc., a publicly traded company listed on the Tokyo Stock Exchange (3350), is a Japanese company that has undergone a strategic transformation to focus on Bitcoin.
