Japanese Firm Metaplanet Buys Additional ¥200 Million Worth of Bitcoin

• Metaplanet’s Bitcoin holdings exceed $10M, with recent ¥200M purchase of 20.20 BTC, signaling strong crypto commitment.
• Tokyo-listed Metaplanet plans ¥1B Bitcoin purchase, backed by board, echoing MicroStrategy’s long-term crypto strategy.
• Metaplanet avoids market value assessment tax by holding Bitcoin long-term, aligning with MicroStrategy’s approach.

Japanese public company Metaplanet has made another major investment in Bitcoin, purchasing an additional 20.20 Bitcoins at a price of ¥61,506 ($1,242,120). This latest acquisition underlines Metaplanet’s strategy to use Bitcoin as its primary treasury reserve asset, following in the footsteps of U.S. firm MicroStrategy. With this purchase, Metaplanet’s total Bitcoin holdings exceed $10 million.

Metaplanet’s Growing Bitcoin Holdings

Listed on the Tokyo Exchange, Metaplanet holds 161.26 Bitcoins at an average buying price of ¥10.2 million per Bitcoin, or about $63,543. So far, the company has spent ¥1.65 billion for its purchases of Bitcoin, which is approximately $10,247,490. This comes as part of a plan to buy ¥1 billion in Bitcoin using funds from its second series of ordinary bonds, this recent purchase of 20.20 Bitcoins for ¥200 million or about $1,242,120.

Investment Strategy and Long-Term Plans

The Board of Directors at Metaplanet has fully supported the company’s investment in Bitcoin. This reflects the strategy of MicroStrategy, a U.S. firm founded by Bitcoin advocate Michael Saylor. MicroStrategy owns 226,331 Bitcoins, making up 1.078% of the total circulating supply, bought at an average price of $36,798 per Bitcoin, totaling around $8.33 billion.

Comparison to MicroStrategy

Both Metaplanet and MicroStrategy are focused on long-term holding of Bitcoin, which exempts them from end-of-term market value assessment taxation. This means they avoid quarterly market value assessments if the Bitcoin is held for the long term, which would otherwise be recorded under non-operating income or expenses if held for the short term.

Future Plans and Market Impact

Metaplanet’s renewed commitment to Bitcoin underlines a growing corporate trend: taking up cryptocurrency as a strategic asset. This would mean the company is planning to acquire ¥1 billion of Bitcoin, reflecting confidence in its future value and stability. As more companies follow suit in this trend, almost indeed the corporate landscape of Bitcoin will be changed, possibly altering the dynamics of both the market and adoption rates at large.

Continued investment in Bitcoin by Metaplanet now underscores the shift in how enterprises manage treasury assets. It underlines the rising role that digital currencies are taking on within corporate finance.