Breaking! Japanese listed companies go all in on Bitcoin
Following in the footsteps of Michael Saylor, another listed company has decided to make Bitcoin its preferred savings tool.
Metaplanet, an investment and consulting company listed on the Tokyo Stock Exchange, announced on Monday (April 8) that it had purchased 1 billion yen (about 6.5 million US dollars) worth of Bitcoin as a company financial asset.
Metaplanet's Bitcoin Strategy
The background of Metaplanet's purchase of Bitcoin is that the status of the yen as the world's main currency has been weakened by depreciation in the past few years and a long-term negative interest rate policy.
On the other hand, crypto assets such as Bitcoin are becoming more and more popular. Despite periodic fluctuations, the value of Bitcoin has been steadily rising over the past decade. It is widely expected that as a highly liquid long-term main currency, Bitcoin will maintain its yen value.
According to the company's announcement, the funds for the purchase of Bitcoin came from the company's exercise of warrants, which raised approximately 935 million yen. The company will use the funds raised to diversify its currency holdings and establish a proprietary position with low exposure to the Japanese yen by investing and holding Bitcoin as part of its cash management strategy. The company believes that Bitcoin is suitable for long-term holding as its value continues to increase.
