Coinspeaker
Japanese Firm Metaplanet Boosts Bitcoin Holdings with $1.2 Million Purchase
In yet another move that shows why it is being compared with industry giant MicroStrategy, Japanese firm Metaplanet has announced its latest Bitcoin purchase. In a Monday announcement via its X account, the company disclosed that it had acquired 21.88 Bitcoin (BTC) at a value of 200 million Japanese Yen. This purchase, which is equivalent to approximately $1.2 million, signals Metaplanet’s resolve relating to its ongoing strategy to accumulate digital assets as a core part of its corporate treasury reserve.
Metaplanet Stacks Up on Bitcoin as Strategic Treasury Asset
By and large, Metaplanet’s Bitcoin acquisition spree began in April this year. Since then, the company has been steadily increasing its Bitcoin holdings, reflecting a growing trend among publicly traded companies to diversify into cryptocurrencies.
Just last week, Metaplanet announced that it added ¥400 million worth of Bitcoin to its portfolio. However, with the latest acquisition, its total Bitcoin holding now stands at 225.6 BTC, valued at over $14.5 million based on current market prices.
Meanwhile, the company’s average purchase price per Bitcoin might be something worth noting. It has maintained approximately $62,800 per BTC purchase, meaning that Metaplanet is approaching entry points strategically and with a keen eye on the volatile cryptocurrency market.
Global Shift in Corporate Finance
As earlier noted, Metaplanet’s interest in Bitcoin is a direct reflection of the strategies being employed by MicroStrategy, the American business intelligence firm led by CEO Michael Saylor. As of the latest data from BitcoinTreasuries.net, MicroStrategy holds an almost unbelievable amount of Bitcoin. That is, 26,331 BTC, with a market value that is close to $14.6 billion. This makes MicroStrategy a benchmark in corporate Bitcoin holdings, often mentioned for its pioneering efforts in the area of using cryptocurrencies as a treasury reserve asset.
While Metaplanet’s decision to integrate Bitcoin into its treasury strategy may appear to be a copy, it really isn’t. The move represents a broader shift in corporate finance, where digital assets are increasingly viewed as viable alternatives to traditional reserves like cash or bonds.
Besides, the company has mentioned, on several occasions, that it is determined to maximize shareholder value through strategic and perpetual accumulation of Bitcoin. So, its continued acquisition is now more of a conviction rather than an act of emulation. It signals that Metaplanet has a growing confidence in the long-term viability and potential growth of cryptocurrencies.
The announcement by Metaplanet comes amidst a backdrop of growing institutional interest in cryptocurrencies. This is driven by factors such as inflation concerns, institutional adoption, and regulatory developments.
So, to hedge against fiat currency depreciation and explore new avenues for capital preservation and appreciation, many corporate institutions now see Bitcoin as an indisputably attractive option.
Japanese Firm Metaplanet Boosts Bitcoin Holdings with $1.2 Million Purchase
