Metaplanets $7M Bitcoin Strategy: More Than Just Buying and Holding
- Metaplanet Inc. has invested an additional ¥1 billion or nearly $7M in Bitcoin.
- The companys total Bitcoin holdings now amount to ¥4.75 billion.
- Bitcoins price recently declined by 3% due to a long squeeze in the futures market.
Metaplanet Inc., a publicly traded Japanese firm, has doubled down on Bitcoin, expanding its strategic holdings with the announcement of an additional investment of ¥1 billion [$7 million] in BTC. This brings the companys total BTC holdings to ¥4.75 billion.
Apart from direct acquisitions, Metaplanet also leverages debt financing to accelerate BTC accumulation. In August, the firm obtained a loan of 1 billion yn [$6.8 million] lon t remarkably low interest rate of 0.1%. Ths funds wr quickly utilized to cquir n dditionl 115 BTC by August 20th.
It has also forged strategic alliances with numerous stakeholders to bolstr its Bitcoin strategy. Lst wk, th compny rvld prtnrship with SBI VC Trd, division of th Jpns finncil conglomrt SBI Group. This prtnrship ims to provid scur nd tx-fficint corport custody srvic for its clients. Additionally, th collbortion xplors th potntil of utilizing Bitcoin s colltrl for finncing, opning up nw vnus for sst lvrg.
In July, Metaplanet joined hands with Hoski, lding Bitcoin vrifiction solution providr. This collbortion mpowrs its usrs to indpndntly vrify th compnys BTC holdings t ny givn tim, fostring trnsprncy nd trust within th invstor community.
Metaplanet Bets Big on Bitcoin Despite Market Dip
That said, Metaplanets latest purchase comes amid a recent decline in BTCs price, which dropped by 3% due to a long squeeze in the futures market. Liquidations in the past 24 hours reached $181 million, with $49 million attributed to BTC alone.
Rising interest rates and the changing leadership in Japan have contributed to a cautious sentiment across the markets. Some analysts are raising concerns about the potential for another overheating in the futures market.
Shigeru Ishiba, Japans next Prime Minister and the newly elected head of Japans ruling Liberal Democratic Party, has disclosed pro-blockchain and NFT policies. Ishiba is slated to appoint the LDPs current web3 taskforce chief Masaaki Taira as the governments new Minister of Digital Affairs. Taira recently hinted that Japan needs to reform its tax system to help boost crypto startups.
Overall, Metaplanets aggressive Bitcoin strategy, coupled with its strategic partnerships and innovative initiatives, positions the company as a frontrunner in the Japanese corporate world.
Read more: https://www.tronweekly.com/metaplanet-bitcoin-buying-and-holding/
Text source: TronWeekly
