Key Points
- The Japanese Public Company Metaplanet announced a Bitcoin strategy that could turn it into Asia’s MicroStrategy.
- Metaplanet invested 1 billion JPY in Bitcoin, adopting it as its “core treasury reserve asset.”
Metaplanet seems to follow MicroStrategy’s footsteps after deciding to make Bitcoin its saving choice.
Metaplanet is an investment and consulting company listed on the Tokyo Stock Exchange. The firm announced recently that it has purchased 1 billion JPY ($6.5 million USD) worth of Bitcoin for its corporate treasury.
They noted that the decision to shift their financial strategy is mirrored by an embrace of Bitcoin as the core treasury asset of the company. The company said that this strategy is not just about embracing crypto but also about “pioneering a future where finance meets innovation at its core.”
The team highlighted the fact that the transition to Bitcoin is an important milestone in their mission to lead in the digital finance era and position Metaplanet as a pioneer in crypto adoption in Japan.
Today, we're thrilled to announce a groundbreaking shift in our financial strategy, as we embrace Bitcoin as the core treasury asset of the Company going forward by committing an initial JPY 1 billion. This strategic pivot is not just about embracing digital assets but also about… pic.twitter.com/OASxj9IBPG
— Metaplanet Inc. (@Metaplanet_JP) April 8, 2024
Following the important announcement, the company’s stock went up by about 90%, showing huge success following the Bitcoin-related decision.
The Metaplanet company is focused on building bridges between Japan and the rest of the world in both Web2 and Web3 environments. Web3 is seeing increased adoption all over the world, and the new era of the Internet brings tokenization and DeFi closer to regular life.
Bitcoin has been in the spotlight a lot lately, especially with BTC prices racing close to new ATHs and the halving event just around the corner.
Bitcoin is 10 days ahead of halving
The next Bitcoin halving is scheduled for April 20.
The halving happens every 210,000 blocks, the next Bitcoin halving is expected to occur when the block height reaches 840,000.
Bitcoin’s latest moves from about $64k to over $72k this month show the high price volatility of the coin’s price ahead of the halving event.
At the moment of writing this article, BTC is trading just a little under $71k, and the coin saw an increase of about 6% in the past seven days on CoinMarketCap.
