{"id":504038,"date":"2024-04-09T21:13:32","date_gmt":"2024-04-09T21:13:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=504038"},"modified":"2024-04-09T21:13:32","modified_gmt":"2024-04-09T21:13:32","slug":"navigating-the-digital-frontier-metaplanets-strategic-bet-on-bitcoin","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/navigating-the-digital-frontier-metaplanets-strategic-bet-on-bitcoin","title":{"rendered":"Navigating the Digital Frontier: Metaplanet’s Strategic Bet on Bitcoin"},"content":{"rendered":"

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 asset<\/a>s to hedge its treasury.<\/p>\n

How Metaplanet Jumped into Bitcoin Investing<\/h2>\n

The strategic choice to adopt BTC has already paid dividends for Metaplanet<\/a>, 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.<\/p>\n

Jason Fang, the founder of Sora Ventures<\/a>, 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<\/a> is seen as a significant milestone, with the firm anticipating it will bolster its position as a frontrunner in digital asset adoption in Japan.<\/p>\n

The trend of using Bitcoin as a treasury asset gained traction with MicroStrategy<\/a>, 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%.<\/p>\n

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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<\/a><\/p>\n

— Metaplanet Inc. (@Metaplanet_JP) April 8, 2024<\/a><\/p><\/blockquote>\n