Metaplanet is following MicroStrategy’s lead by announcing that it will use Bitcoin as a treasury hedge asset.
Publicly listed Japanese firm Metaplanet has announced it has bought 1 billion yen ($6.5 million) worth of Bitcoin (BTC) as a core treasury asset, following in the footsteps of American giant MicroStrategy.
Metaplanet is an investment firm focused on Web3 and metaverse-related businesses. The decision to adopt Bitcoin as a treasury asset was backed by Sora Ventures, UTXO Management, as well as notable individuals such as Mark Yusko, the founder of Morgan Creek Capital, and Jack Liu, a founding member of Ordswap.
Jason Fang, founder of Sora Ventures, called Metaplanet “Asia’s first MicroStrategy.” He added that the firm’s adoption of BTC would enable Japanese investors to gain exposure to Bitcoin without regulatory risk.
