Japanese investment firm Metaplanet has announced a significant investment in Bitcoin (BTC), allocating 1 billion yen ($6.5 million) to the world’s leading cryptocurrency, in a move that mirrors the strategy of American technology giant MicroStrategy. This bold decision positions Metaplanet as a potential pioneer in crypto asset adoption in the Asian market.
Metaplanet purchased Bitcoin
Metaplanet, which focuses on Web3 and metaverse initiatives, emphasizes its commitment to the future of crypto finance with its Bitcoin purchase. This move, strategically supported by leading names such as Sora Ventures, UTXO Management, Mark Yusko (founder of Morgan Creek Capital) and Jack Liu (co-founder of Ordiswap), shows increasing confidence in the long-term value of Bitcoin.
Jason Fang, founder of Sora Ventures, enthusiastically called Metaplanet “Asia’s first MicroStrategy.” He emphasized that this adoption provides a gateway for Japanese investors to gain exposure to Bitcoin without the potential regulatory hurdles typically associated with the asset class. The market response was swift and positive. After the announcement, Metaplanet’s stock price increased by an impressive 89%.
BTC purchase is very critical
Through an official statement, Metaplanet aims to solidify their position as a “pioneer in crypto asset adoption in Japan” by describing the Bitcoin purchase as a pivotal moment. This is in line with the global trend pioneered by MicroStrategy CEO Michael Saylor, who is expanding the use of Bitcoin as a treasury asset for large companies.
cryptokoin.com As we reported, MicroStrategy, a well-known US-based public company, started accumulating Bitcoin in August 2020 when its price was hovering around $10,000. Over the past four years, the Nasdaq-listed firm has accumulated a staggering 214,246 BTC at an average purchase price of $33,706 per unit, bringing its total investments to $6.91 billion. Today, this holding has a market capitalization of more than $15 billion, which translates into a return on investment exceeding 100%.
Microstrategy did not lose hope even in the bear market
Saylor did not waver from this belief even in the depths of the 2022 bear market, when the company’s Bitcoin holdings faced significant losses. He doubled down on his bullish stance by buying more Bitcoin. This unwavering belief in Bitcoin’s potential, combined with the strategy of using Bitcoin as a hedge against inflation, has inspired many publicly traded companies to follow suit. Saylor specifically claims that he played a role in convincing Tesla CEO Elon Musk to buy $1.5 billion worth of Bitcoin in January 2021.
Metaplanet’s entry into the Bitcoin space has important implications for the Asian market. Following in the footsteps of MicroStrategy, they are paving the way for institutional adoption of crypto assets in the region. This move not only strengthens Metaplanet’s position as a forward-thinking investment firm, but also potentially opens doors for Bitcoin to gain more mainstream acceptance in Japan and beyond. In the ever-evolving landscape of digital finance, Metaplanet’s bold move positions them as a major player to watch in the coming years.
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