Crypto News

'Asia's MicroStrategy' Metaplanet Buys ¥1 Billion Worth Bitcoin as Pledged

'Asia's MicroStrategy' Metaplanet Buys ¥1 Billion Worth Bitcoin as Pledged

Metaplanet, a publicly-listed Japanese company providing hotel-related and other services, has announced the purchase of ¥1 billion (approximately $6.25 million) worth of Bitcoin. 

The company, which is listed on the Tokyo Stock Exchange, declared its intention to adopt Bitcoin as a treasury reserve asset earlier this month on X. Metaplanet stated its plan to buy ¥1 billion in Bitcoin as an initial commitment.

The company's recent announcement on X revealed that they have fulfilled their commitment, purchasing ¥1 billion worth of Bitcoin. 

This move closely mimics the strategy employed by MicroStrategy, a U.S.-based company that has been accumulating Bitcoin since 2020. MicroStrategy's Bitcoin purchases have led to a dramatic increase in its share price.

Following the announcement earlier this month, Metaplanet's stock price also saw a significant increase, indicating investor confidence in the company's decision to invest in Bitcoin. 

Jason, from Sora Ventures, referred to Metaplanet as "Asia's first MicroStrategy," highlighting the potential impact of this move on the Asian market.

Click the image to learn more.

Metaplanet's Bitcoin investment offers Japanese investors a unique opportunity to gain exposure to Bitcoin without incurring an unrealized gains tax, which can be as high as 55%. 

Additionally, anyone with an account on the Tokyo Stock Exchange can now indirectly invest in Bitcoin through Metaplanet without facing the regulatory risks associated with direct purchases.

This development is seen as a positive step for Bitcoin and its market in Asia, as it demonstrates growing acceptance and adoption by traditional financial institutions and publicly listed companies. 

Read more: https://bitcoinmagazine.com/business/asias-microstrategy-metaplanet-buys-1-billion-bitcoin-yen

Text source: Bitcoin Magazine: Bitcoin News, Articles, Charts,

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
Buy & sell Crypto in minutes

Join BINANCE!

The world's largest crypto exchange

You're just steps away from receiving your reward.

The most complete Crypto News Center.

Search Stories:

Latest top stories