Tokyo-based investment firm Metaplanet Inc. has finalized a deal to license a Japan-based franchise of crypto news media outlet Bitcoin Magazine just six months after purchasing Bitcoin for the first time.
Metaplanet said on Nov. 25 that it had wrapped an exclusive licensing agreement deal with BTC Media Inc. — a subsidiary of BTC Inc. that operates the publication — to “the rights to launch Bitcoin Magazine Japan.”
Metaplanet said the outlet is slated for a “full rollout” in the first quarter of 2025. The two companies first signed an agreement for Metaplanet to operate the publication in July. The venture capital arm of BTC Inc., UTXO Management, has also invested in Metaplanet.
Source: Metaplanet
“Japan holds a pivotal position in global finance and technology, making it a key market for Bitcoin adoption,” Metaplanet said in a statement. “Through Bitcoin Magazine Japan, Metaplanet aims to serve as the bridge between Japan’s financial institutions, regulators, and the Bitcoin community.”
Shares in Metaplanet dropped before the lunch break on the Tokyo Stock Exchange, hitting a high of $17.60 (2,715 yen) before dropping 3% to $17.11 (2,630 yen) before the break, according to Google Finance.
Metaplanet’s shares were down on the day and continued to trade slightly down after the break. Source: Google Finance
Metaplanet’s stock is up nearly 1,550% this year after it pivoted to buying Bitcoin (BTC) in early April. It’s since scooped up just over 1,142 BTC for a total spend of around $74 million (11.372 billion yen) — an investment currently worth $111.5 million with Bitcoin at around $97,600.
Bitcoin Magazine is among the oldest crypto media publications, as it began publishing in 2012. Ethereum co-founder Vitalik Buterin was among its co-founders and was its lead writer in its early days.
Over the past three months to October, Bitcoin Magazine had 1.27 million total visits, ranking below that of competitors Decrypt and The Block, with 3.8 million and 3.2 million, respectively, and far below others such as CoinDesk, which had over 12 million visits, according to Similarweb data.
Daily visits to the sites for Bitcoin Magazine and other crypto media publications between August and October. Source: Similarweb
Bitcoin Magazine Japan will enter a competitive local market where Western outlets, including CoinDesk and Cointelegraph, operate Japanese language versions alongside homegrown outlets such as CoinPost.
Specifics of BTC Inc. and Metaplanet’s agreement were not shared. BTC Inc. and Metaplanet did not immediately respond to requests for comment.
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