Metaplanet Makes Additional ¥1 Billion Bitcoin Purchase amid Economic Uncertainty
Metaplanet’s strategy has been largely compared to that of the US-based MicroStrategy.
Key Notes
- Metaplanet continues to increase its Bitcoin holdings monthly, regardless of market fluctuations.
- The firm’s recent partnership with SBI Group enhances its Bitcoin trading, custody services, and compliance.
Metaplanet has made yet another bold Bitcoin
BTC
$62 134
24h volatility:
-2.1%
Market cap:
$1.23 T
Vol. 24h:
$43.05 B
move in a display that has now almost become a routine for the Tokyo-listed investment firm. According to a recent announcement shared via the official X account of the firm, it has just acquired another 107.913 Bitcoin, valued at ¥1 billion (approximately $7 million).
While this move comes off as proof of Metaplanet’s commitment to using Bitcoin as a strategic reserve asset, it also signals the firm’s continued confidence in the cryptocurrency.
Just last month, Coinspeaker reported that the firm added $2 million worth of Bitcoin to its treasury.
Metaplanet Inspired by MicroStrategy’s Playbook on Bitcoin Acquisition
Metaplanet’s strategy has been largely compared to that of the US-based MicroStrategy, a firm that is popularly known for having accumulated billions in Bitcoin to use as a treasury asset.
Quite in the same way that MicroStrategy does, Metaplanet views Bitcoin as a hedge against economic challenges.
Its Bitcoin acquisition spree has become even more important considering the rising economic woes of Japan. That is, as the nation continues to battle inflation and ongoing monetary policy shifts.
Since it first announced the decision to focus on Bitcoin on April 9, Metaplanet has not missed a month without increasing its holdings. Even during times when the fluctuations in the crypto market might not encourage such a move.
Metaplanet maintains a rigid stance on its view that Bitcoin will give domestic investors exposure and help them leverage favorable tax treatment.
Strategic Partnership and Future Outlook
In early September, Metaplanet went to work with SBI Group’s cryptocurrency investment arm. However, that partnership was a strategic one aimed at helping Metaplanet to enhance its Bitcoin trading and custody services.
The move will also help the firm handle its growing portfolio with maximum efficiency. Together, the two companies aim to offer compliant corporate custody, tax optimization, and using Bitcoin as collateral for future ventures.
Other than providing Metaplanet with a better ability to manage its portfolio, the partnership also helps the firm mitigate risks that might be linked to security and compliance.
There is no gainsaying that Japan’s crypto regulatory framework is becoming rather more comprehensive. Therefore, this collaboration helps put Metaplanet at a vantage position in the market, even as its operations remain within regulatory guidelines.
As noted earlier, Metaplanet remains committed to its consistent purchases. That is, whether or not there is a decline in Bitcoin price or an uptick. This goes to show that the firm views short-term market fluctuations as inconsequential to Bitcoin’s long-term potential.
With its latest purchase, the company has once again made a bold statement that Bitcoin continues to be a great store of value and a hedge against economic challenges.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this.
He’s a reader, a researcher, an astute speaker, and also a budding entrepreneur.
Away from crypto however, Mayowa’s fancied distractions include soccer or discussing world politics.
