The Japanese investment firm has amassed 203.734 Bitcoins, valued at 2.05 billion yen.
Metaplanet has set up a new company in the British Virgin Islands as part of its strategy.
Publicly traded companies in Japan are steadily increasing their Bitcoin holdings each week. Metaplanet bought 42.47 Bitcoins worth approx 2.42 million USD, to take advantage of the current Bitcoin price drop. Coincidentally, the purchase of Bitcoin occurred earlier today, just as its price plummeted below $54,500. At the time of writing, Bitcoin is trading at $57,067 as per data from CMC.
Metplanet, a Japanese corporation, has taken a bold turn by deciding to accumulate Bitcoin. So, it’s also known as the MicroStrategy of Japan in the public eye.
Moreover, Metaplanet has set up a new company in the British Virgin Islands as part of its strategy to invest in Bitcoin. Its long-term financial plan includes increasing its Bitcoin reserves and strengthening its position in the crypto market.
Banking on Bitcoin
The Japanese investment firm has amassed 203.734 Bitcoins, valued at 2.05 billion yen, via continual accumulation throughout the last month and more. At the present time, Metaplanet has Bitcoin holdings of 2 billion JPY, contributing to its market value of 14.5 billion JPY.
Some industry watchers anticipate that Bitcoin’s proportion of Metaplanet’s total assets will soon surpass 100%. All of these bold actions are being orchestrated by Dylan LeClair, who is the Director of Bitcoin Strategy at Metaplanet.
Leclair has said in one of these recent podcasts that the Bitcoin-friendly climate in Japan offers a one-of-a-kind chance for business expansion and strategy. In addition, LeClair’s role as Metaplanet’s ‘Michael Saylor’ is becoming more popular. The company’s initiative to embrace Bitcoin has been a major factor in the 382% increase in Metaplanet shares since the beginning of 2024.
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