Japanese Investment Firm Metaplanet Announces Purchase of Bitcoin Worth ¥1 Billion

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Metaplanet seems to follow MicroStrategy’s footsteps after deciding to make Bitcoin its saving choice. In a recent disclosure, Japanese company Metaplanet Inc. has announced its purchase of ¥1 billion ($6.25 million) worth of Bitcoin. This move comes as the company strategically diversifies its investment portfolio and enters the cryptocurrency space.

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 Metaplanet Acquired $6.5 Mln Worth of Bitcoin

Metaplanet, a prominent investment and consulting firm listed on the Tokyo Stock Exchange, recently made waves in the financial world by announcing its acquisition of ¥1 billion ($6.5 million) worth of Bitcoin for its corporate treasury. Meanwhile, this substantial investment is equivalent to approximately 30% of the company’s current market cap.

The purchase, revealed in a “Progress of Disclosure” notice dated April 8, 2024, indicates that Metaplanet has acquired 97.8519 bitcoins at an average price of ¥10,219,524 per bitcoin. This substantial investment represents approximately 30% of the company’s current market capitalization.

Japanese public company Metaplanet has announced it purchased ¥1b ($6.25m) of $BTC, equivalent to ~30% of the company's current market cap. #Bitcoin pic.twitter.com/BLYC1BC1q4

— Dylan LeClair