‘Asian MicroStrategy’ Metaplanet Acquires ¥1 Billion in Bitcoin as Promised

Metaplanet, a publicly-listed Japanese company offering hotel-related and other services, has recently revealed the acquisition of ¥1 billion (approximately $6.25 million) worth of Bitcoin. NEW: 🇯🇵 Japanese Public Company Metaplanet recently purchased $6.25 million worth of #Bitcoin

Game theory is now in action 🚀— Bitcoin Magazine (@BitcoinMagazine) April 26, 2024

The Tokyo Stock Exchange-listed company, Metaplanet, had announced its decision to include Bitcoin as a treasury reserve asset earlier this month on X. They had planned to purchase ¥1 billion in Bitcoin as an initial step. In their recent declaration on X, Metaplanet confirmed the completion of their commitment by acquiring ¥1 billion worth of Bitcoin. This move is akin to the strategy adopted by MicroStrategy, a U.S.-based firm that has been accumulating Bitcoin since 2020. The surge in MicroStrategy’s share price following their Bitcoin purchases has been notable. With Metaplanet’s stock price also gaining significantly after the recent announcement, it reflects investor confidence in the company’s Bitcoin investment choice. Jason from Sora Ventures even referred to Metaplanet as “Asia’s first MicroStrategy,” underlining the potential impact of this move on the Asian market.

Metaplanet’s Bitcoin investment provides Japanese investors a unique opportunity to enter the Bitcoin market without facing a high unrealized gains tax of up to 55%. Moreover, individuals with accounts on the Tokyo Stock Exchange can indirectly invest in Bitcoin through Metaplanet without the regulatory risks associated with direct purchases. This development is viewed positively for Bitcoin in the Asian market, showcasing increasing acceptance and adoption by conventional financial institutions and publicly listed companies.

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