Metaplanet Inc. Embraces Bitcoin Strategy

Metaplanet Inc., a Japanese publicly traded company, is enhancing its Bitcoin (BTC) strategy by announcing a new round of purchases. The company recently acquired 20.195 Bitcoin units at an average price of 9,903,440 yen per BTC, totaling approximately 200 million yen or $1,242,180.

Metaplanet's Bitcoin accumulation strategy mirrors MicroStrategy's approach and marks it as the first listed Asian corporation to adopt Bitcoin as its treasury reserve asset. Unlike MicroStrategy, Metaplanet has displayed more consistency in its Bitcoin accumulation endeavors, making frequent acquisitions every other month.

Following the latest purchase, Metaplanet's Bitcoin holdings have increased to 161.2677 BTC, with an average acquisition price of 10,231,438 yen per unit. This brings the total value of the company's Bitcoin portfolio to 1.65 billion yen or $10.24 million.

Similar to MicroStrategy, Metaplanet also utilized a debt offering to acquire some of the BTC in its portfolio, issuing one billion yen in bonds for this purpose.

Establishing Bitcoin Focus

In a significant move towards intensifying its Bitcoin focus, Metaplanet Inc. established an offshore subsidiary in the British Virgin Islands (BVI) to facilitate Bitcoin transactions and related activities. This strategic decision aims to streamline Bitcoin purchases and bolster the company's involvement in the cryptocurrency sphere.

Metaplanet's recent actions not only bolster its position in Bitcoin but also contribute to driving broader interest in the cryptocurrency. The establishment of the BVI entity underscores the company's commitment to furthering its Bitcoin strategy, potentially setting a trend for other Asian multinationals to follow suit in the future.