Metaplanet's aggressive Bitcoin investments signal a growing trend among Asian firms to use cryptocurrency as a hedge against economic instability.
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Metaplanet Inc. allocates 8.5 billion yen for Bitcoin, enhancing its crypto treasury amid Japan’s market volatility.
Shares in Metaplanet and Semler Scientific are up double and triple digits since the firms followed MicroStrategy’s Bitcoin playbook this year.
Bitcoin price briefly traded above the $68,000 mark the past day after President Joe Biden decided not to seek re-election in the November elections. However, the digital asset has slightly retraced to $67,206 as of press time amid news of Metaplanet’s continued Bitcoin purchase and bankrupt Mt. Gox’s repayment plans. Metaplanet buys Bitcoin The Tokyo […]
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Since its first Bitcoin purchase, the company's stock price surged 810% from about $0.12 to $1.10.
Metaplanet's continued Bitcoin accumulation signals a growing trend among companies to adopt cryptocurrency as a key treasury asset.
The post ‘Asia’s MicroStrategy’ Metaplanet announces new Bitcoin purchase, boosts holdings to $14.5 million appeared first on Crypto Briefing.
After completing the latest purchase, Metaplanet holds 203,734 BTC bought at an average price of around $62,000 per coin.
Recent insights from a survey conducted by Nomura Holdings and Laser Digital Holdings shed light on the evolving attitudes of Japanese institutional investors towards cryptocurrency. The survey, which included responses from 547 investment managers across various sectors such as family offices and public interest corporations, suggested a big embrace of cryptocurrency from these respective fields. […]
If it could buy the Bitcoin today, Metaplanet’s total Bitcoin holdings would be 241 Bitcoin, worth around $15 million.
Trading in Metaplanet’s stock was halted for two straight days under Tokyo Stock Exchange rules as its shares rocketed over the last week.
Early-stage investment firm Metaplanet announced on Monday that it’s adopting Bitcoin (BTC) as its sole “strategic treasury reserve asset.” This audacious decision signals a growing confidence in the controversial cryptocurrency as a legitimate store of value and hedge against traditional economic woes. Related Reading: CEO Drops Bombshell: Trump Campaign Eyes Crypto-Friendly Policies Yen Under Pressure, Bitcoin On The Rise Metaplanet’s decision comes amidst a backdrop of sustained economic pressures in Japan. A weakening yen, coupled with high government debt levels and persistently low-interest rates, seems to have pushed the firm to seek alternative havens for its reserves. Bitcoin, with its finite supply and decentralized nature, appears to be their answer. ‘Bitcoin-First, Bitcoin-Only’ Approach In a clear statement of intent, Metaplanet outlined its new “Bitcoin-first, Bitcoin-only approach” to treasury management. The company plans to strategically convert its existing yen liabilities and future share issuances into BTC, effectively accumulating more of the digital asset over time. This strategy echoes the recent moves of US-based MicroStrategy, which has become a major institutional holder of Bitcoin. A screenshot of Metaplanet's press release. Believing In The ‘Absolutely Scarce’ Asset Metaplanet’s press release paints a glowing picture of the top crypto asset’s potential. They view it as “fundamentally superior” to traditional currencies and other investment options, highlighting its scarcity and lack of a central issuer. They are impressed by Bitcoin’s proof-of-work (PoW) consensus mechanism, emphasizing how it creates a progressively higher cost of production for the remaining coins yet to be mined. This, they argue, stands in stark contrast to traditional commodities whose supply can be readily increased. Bitcoin is now trading at $62.896. Chart: TradingView Following The Footsteps Of A Corporate Bitcoin Believer There are clear parallels between Metaplanet’s strategy and that of MicroStrategy. The US firm has aggressively amassed Bitcoin, currently holding over 1% of the entire circulating supply. Metaplanet, though smaller, has reportedly acquired over 117 BTC since April, signaling their commitment to replicating this strategy. While Metaplanet’s decision reflects a growing institutional interest in Bitcoin, it also carries significant risks. Bitcoin’s price remains highly volatile, with the potential for substantial losses if the market takes a downturn. Additionally, the regulatory landscape surrounding cryptocurrencies is still evolving, and future regulations could negatively impact Bitcoin’s viability as a reserve asset. Related Reading: Analyst Predicts Injective (INJ) Breakout: $50 Price Range On The Horizon A Digital Canary In The Coal Mine? Metaplanet’s bold move serves as a fascinating case study. Their all-in bet on Bitcoin raises questions about the future of traditional reserve assets and the potential for wider adoption of cryptocurrencies by institutional investors. Impact On Bitcoin Price The company’s investment, while significant for a single firm, represents a relatively small portion of the total Bitcoin market capitalization. However, the news itself could generate positive sentiment and short-term price increases, especially if it entices other institutional investors to follow suit. Conversely, if Metaplanet’s strategy backfires and they are forced to sell their Bitcoin holdings at a loss, it could trigger a broader sell-off and price decline. Ultimately, the long-term impact will depend on how this bold move by Metaplanet plays out, alongside broader market forces and evolving regulations. Featured image from Pexels, chart from TradingView
Since announcing its Bitcoin strategy in April, Metaplanet has accumulated around 117.7 BTC valued at $7.2 million.
Tokyo stock exchange-listed Metaplanet declared Bitcoin as its strategic reserve asset due to the current economic uncertainty pervading the Japanese economy, according to a May 13 statement. The firm said: “Metaplanet has adopted Bitcoin as its strategic treasury reserve asset. This move is a direct response to sustained economic pressures in Japan, notably high government […]
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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 […]
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Metaplanet, a Tokyo Stock Exchange-listed company, announced on April 8 that it has embraced Bitcoin as a core treasury asset. In an April 8 statement on social media platform X (formerly Twitter), Metaplanet said it was allocating ¥1 billion, approximately $6.56 million, to the flagship digital asset as part of its groundbreaking shift in its […]
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