On Tuesday 01-Oct-2024, Japanese investment company Metaplanet revealed it had acquires an additional 107.9 $BTC , worth 1 billion yen ($7 million), as the crypto market begins the fourth quarter with a sense of optimism.
To Date, the company has accumulated a total of 506.7 $BTC , which is approximately 4.75 billion yen ($33.2 million).
Often compared other "Asia's MicroStrategy," Metaplanet has been increasing its Bitcoin holdings as part of a calculated strategy to bolster its treasury reserves. This mirrors the approach taken by MicroStrategy, the U.S-based company famous for its significant Bitcoin investments.
Company Leverage Bitcoin to protect against inflation and current instability
In response to the economic upheaval following the Covid-19 pandemic, where traditional financial assets experienced extreme fluctuations and depreciation, Metaplanet recognised Bitcoin as a safeguard against inflation and currency instability. As a result, the firm decided to diversify it's portfolio by converting a portion of its cash reserves into Bitcoin.
By accumulating Bitcoin, Metaplanet aims to protect itself from a potential decline in the yen and take advantage of Bitcoin's anticipated future growth.
Collaboration with SBI to Strengthen Bitcoin Trading and Management
In September, Metaplanet announced a partnership with Holdings Cryptocurrency division to enhance its Bitcoin trading , storage, and management capabilities. As its treasury grows, Metaplanet is actively exploring new tools and strategies to increase its financial flexibility, according to the company.
Concluded : Through this tokenisation strategy, the company seeks to broaden its investor base, allowing U.S. and global investors to engage with the firm. Hence $BTC move a head upside.
