Metaplanet Expands Bitcoin Holdings With New Purchase


Japanese public company Metaplanet has recently expanded its Bitcoin holdings by acquiring an additional 23.35 BTC. This move signifies a growing trend among institutional investors to increase their exposure to cryptocurrencies, particularly Bitcoin, often hailed as digital gold.

Metaplanet has Plans to Continue Acquiring BTC

By allocating a substantial sum to Bitcoin, the prominent Japanese company is positioning itself strategically to capitalize on the ongoing digital transformation of financial markets. As detailed in a report, the company acquired 23.35 BTC at an average price of  ¥10,706,180 per Bitcoin, totaling approximately $1.5 million (¥250 million).

Metaplanet has purchased a total of ¥1.45 billion, increasing its cumulative Bitcoin holdings to 141.0727 BTC. While the company’s total Bitcoin holdings are still less than 200 BTC, analysts emphasized the importance of consistency.

With the current development for Metaplanet, the Japanese will gain exposure to Bitcoin without paying unrealized gains tax that could be as high as 55%.

The Metaplanet Bitcoin Game

In April, the renowned entity listed on the prestigious Tokyo Stock Exchange ventured into the cryptocurrency market by investing $6.35 million in Bitcoin. Notably, the company’s decision was driven by factors such as the increasing mainstream adoption of cryptocurrencies, favorable regulatory developments, and the potential for substantial long-term gains.

As detailed in a Progress of Disclosure notice, the company acquired 97.8519 Bitcoins at an average price of ¥10,219,524 per bitcoin. The purchase accounted for 30% of Metaplanet’s market capitalization, suggesting a shift in the company’s investment strategy.

Meanwhile, Metaplanet’s move comes after MicroStrategy’s recent $2 billion Bitcoin acquisitions for six months, which triggered a cautionary note from JPMorgan Chase.

A Growing Trend

This move by Metaplanet underscores a growing trend among companies to diversify their corporate treasuries by investing in Bitcoin. As Bitcoin gains mainstream acceptance as a store of value and an inflation hedge, more companies are integrating it into their financial strategies. 

A few days ago, Semler Scientific, a developer, and manufacturer of medical products made a significant move by purchasing an additional 247 Bitcoin for a total of $17 million, including fees and expenses. According to the release, this acquisition brought the company’s total Bitcoin holdings to 828 bitcoins, valued at nearly $59 million at currency market prices.

The decision to increase its BTC investment is part of Semler Scientific’s broader strategy to diversify its assets and capitalize on the potential growth of digital currencies. Similarly, Block Inc., led by Twitter co-founder Jack Dorsey unveiled a new initiative to invest in Bitcoin monthly, utilizing a portion of its gross profit from Bitcoin products.

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