Metaplanet once again spends 250 million yen to embrace Bitcoin
Japanese listed company Metaplanet (TSE Standard: 3350) announced at a recent board meeting that it will spend another 250 million yen to purchase Bitcoin. This is the company’s second large-scale investment in Bitcoin this year. This latest acquisition follows a 1 billion yen acquisition earlier this year that brings the company’s total investment to 1.25 billion yen (about $8 million).
Source:X
Metaplanet’s CEO said that despite the recent volatility in Bitcoin’s price, the company sees it as a good long-term investment opportunity. The company also further elaborated on their accounting practices for Bitcoin: “For long-term Bitcoin holdings, we will record them at cost, while for short-term Bitcoin holdings, we will reassess their value quarterly at market value. If there is a material impact on quarterly results, we will disclose it in a timely manner."
Don’t worry if the yen plummets! "Japan Micro Strategy" relies on buying Bitcoin and the stock price soared 313%. Does the reserve strategy work?
Health technology companies are here to join in the fun! Spend 40 million magnesium on Bitcoin
Not only Metaplanet, but Nasdaq-listed health technology company Semler Scientific (SMLR) also announced the purchase of Bitcoin as part of its asset reserves. The health technology company recently invested $40 million in Bitcoin, showing its interest and willingness to invest in the cryptocurrency.
Eric Semler, CEO of Semler Scientific, said in an interview: “Our adoption of Bitcoin as a reserve asset and purchase of Bitcoin underscores our belief that Bitcoin is a reliable store of value and an attractive investment."
Source: Semler Scientific
Why choose Bitcoin as an asset reserve?
As uncertainty in the global economy increases, more and more businesses are looking to Bitcoin as a hedge against inflation.
Semler said of the Bitcoin strategy: “We believe that as a scarce and limited asset, it has unique characteristics that can serve as a reasonable inflation hedge and safe haven in the face of global instability. Therefore, in the research After looking at various alternatives, we decided that holding Bitcoin would be the best use of our excess cash.”
Metaplanet and Semler Scientific have included Bitcoin in their asset reserves, not only because of its potential return on investment, but also because they hope to increase the company's asset liquidity and flexibility through Bitcoin. As more and more companies incorporate Bitcoin into their asset reserves, Bitcoin's status as a new type of asset is gradually improving. The investment actions of Metaplanet and Semler Scientific not only reflect the high importance companies attach to Bitcoin, but also demonstrate the potential and value of Bitcoin in global asset allocation.
Source: Metaplanet
"Crypto City" added: Currently, MicroStrategy (MRST) is the largest corporate holder of Bitcoin and also uses Bitcoin as its main reserve asset. According to the company’s first quarter financial report this year, as of April 26, MicroStrategy held 214,400 Bitcoins at a total cost of $7.54 billion (currently worth $14.7 billion) and an average purchase price of $35,180.
Source: MicroStrategy
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