Metaplanet boosts its Bitcoin reserves, positions itself as Asias MicroStrategy
Japan-based Metaplanet has acquired additional Bitcoin, according to a May 10 disclosure statement on social media platform X.
The firm revealed that it bought 19.87 BTC on April 23 at an average price of 10.06 million yen, equivalent to $64,664 each. This purchase amounted to 200 million yen, approximately $1.28 million.
This acquisition brings Metaplanets total Bitcoin holdings to approximately 117.72 BTC, valued at 1.2 billion JPY or $7.7 million.
On April 8, Metaplanet committed to Bitcoin as a core treasury asset, allocating ¥1 billion, around $6.56 million, to the flagship digital asset in a significant shift in its financial strategy.
Shortly after, the firm fulfilled its commitment by purchasing 97.85 Bitcoin for 1 billion Japanese yen on April 24. It said its purchase was not just about embracing digital assets but also about pioneering a future where finance meets innovation at its core.
Additionally, it appointed Dylan LeClair, a staunch Bitcoin advocate, as its Director of Bitcoin Strategy. In this role, Dylan will lead the firms corporate Bitcoin strategy to acquire more Bitcoin in alignment with its vision.
Metaplanet is a Japanese public company offering hospitality and technology-related services. It is the first publicly traded company on the Tokyo Stock Exchange to purchase BTC.
According to Yahoo Finance data, Metaplanets share price increased by 3% to 30 yen following news of its BTC acquisition.
Asias MicroStrategy
Metaplanets BTC acquisitions firmly position it as the MicroStrategy of Asia.
MicroStrategy is the largest public holder of Bitcoin, holding more than 200,000 BTC, valued at over $13 billion. The software firm has consistently acquired its BTC as part of efforts to strengthen its balance sheet.
The companys chairman, Michael Saylor, recently stated that the flagship digital asset was the Best Alternative Investment.
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Text source: CryptoSlate
