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In a bold move mirroring American titan MicroStrategy, Metaplanet, a Japanese firm publicly traded and specializing in Web3 and metaverse ventures, has announced a significant investment in Bitcoin (BTC). The firm has acquired 1 billion yen (approximately $6.5 million) worth of BTC, positioning it as a core asset in its treasury. This decision marks Metaplanet as a pioneer in the Japanese market, embracing digital assets to hedge its treasury.
How Metaplanet Jumped into Bitcoin Investing
The strategic choice to adopt BTC has already paid dividends for Metaplanet, with its stock price witnessing an impressive 89% surge following the announcement. The firm’s move has been supported by industry heavyweights such as Sora Ventures, UTXO Management, and notable figures like Mark Yusko, founder of Morgan Creek Capital, and Jack Liu, a founding member of Ordiswap.
Jason Fang, the founder of Sora Ventures, hailed Metaplanet as “Asia’s first MicroStrategy,” highlighting the firm’s potential to offer Japanese investors exposure to Bitcoin without the burden of regulatory risk. Metaplanet’s adoption of BTC is seen as a significant milestone, with the firm anticipating it will bolster its position as a frontrunner in digital asset adoption in Japan.
The trend of using Bitcoin as a treasury asset gained traction with MicroStrategy, a Fortune 500 company led by Michael Saylor. The U.S.-based firm began its Bitcoin journey in August 2020, purchasing BTC when it was trading around the $10,000 mark. Over the ensuing four years, MicroStrategy amassed a staggering 214,246 BTC, with an average purchase price of $33,706.00 per BTC, amounting to a total investment of $6.91 billion. The current market value of MicroStrategy’s BTC holdings exceeds $15 billion, yielding a profit of over 100%.
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
Even during the 2022 bear market, when MicroStrategy’s BTC investments were underwater, Saylor remained steadfast, opting to buy more rather than sell. His conviction in Bitcoin as a treasury-hedging asset has not only benefited his company but also inspired other publicly listed companies to follow suit. Notably, Saylor’s influence extended to Tesla CEO Elon Musk, who, reportedly persuaded by Saylor, decided to invest $1.5 billion in BTC in January 2021.
Unlocking the Potential of Dogeverse: The Chain-Hopping Meme Coin Revolution
Dogeverse’s journey from a simple meme coin to a potential powerhouse in the crypto space is driven by its multi-chain functionality. This approach not only broadens its appeal across various user preferences but also serves as a unifying force in the often fragmented blockchain ecosystem. Whether users are drawn to the low transaction costs on Solana, the established reputation of Ethereum, or the curiosity to explore the emerging Base chain, Dogeverse stands ready to welcome them with open arms.
One of the most compelling aspects of Dogeverse is its ability to foster community among diverse blockchain users. By leveraging cross-chain bridges like Wormhole and PortalBridge, it aims to mitigate the rivalries that sometimes arise between different blockchain communities. This, coupled with the enticing lore surrounding Cosmo, has the potential to elevate Dogeverse beyond the achievements of its meme coin predecessors, such as Dogecoin.
At the heart of Dogeverse’s appeal is its vibrant lore and the legendary adventures of Cosmo, inviting users from each blockchain to contribute their own tales to its mythology. This not only enriches the project’s backstory but also enhances its charm and appeal, possibly setting the stage for Dogeverse to become a mythical figure in the crypto world.
The presale of Dogeverse is structured into ten stages, with the price of tokens incrementally rising from $0.0000290 in the initial phase to $0.000299 in the final stage. With a total supply of 200 billion tokens, 30 billion are allocated for the presale, aiming for a soft cap of $8.83 million and a hard cap of $17.002 million. Impressively, Dogeverse has already garnered over $300k on its first day of presale, signaling strong market enthusiasm.
For those intrigued by the promise of Dogeverse and its novel approach to blockchain interoperability, participation in the presale is available at thedogeverse.com. The project not only promises immediate benefits through its versatile usability across different chains but also holds the potential for long-term growth as it endeavors to bridge the divides within the blockchain community.
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