Japanese investment firm Metaplanet has recently made headlines with the announcement of its latest Bitcoin acquisition. The Tokyo-based company revealed that it has acquired over 20.2 Bitcoin, totaling its BTC holdings to 161.3 BTC. This move is part of the company’s ongoing strategy to strengthen its BTC holdings.
Metaplanet had invested 200 million yen, equivalent to $1.2 million, to purchase the additional BTC. The news of this purchase was shared on the company’s social media account, X, shortly after the close of trading on the Tokyo Stock Exchange.
This recent investment comes on the heels of Metaplanet’s announcement of its $6 million investment to expand its Bitcoin holdings. The company plans to fund this purchase with proceeds from a recent bond sale.
Metaplanet’s decision to integrate Bitcoin into its treasury assets was influenced by various factors. Firstly, the company aims to reduce its exposure to the Japanese yen, which has been negatively affected by Japan’s low-interest-rate environment. Additionally, the company sees Bitcoin as a potential hedge against inflation, a tool for macroeconomic resilience, and a source of long-term capital appreciation.
It is worth noting that Metaplanet’s decision to incorporate Bitcoin into its reserve assets has had a positive impact on the company’s shares.
The investment strategy employed by Metaplanet is reminiscent of that of MicroStrategy, a software developer based in Tysons Corner, Virginia. MicroStrategy has been consistently purchasing BTC for nearly four years and currently holds over 226,000 BTC, which represents more than 1% of the total supply of Bitcoin that will ever be issued.
These developments reflect the increasing trend of corporate treasurers exploring the inclusion of Bitcoin as a reserve asset. According to digital asset prime services platform Abra, there is a growing interest among non-crypto-native businesses in utilizing Bitcoin as a treasury reserve asset. Specifically, small to medium-sized businesses, particularly real estate companies, have shown interest in buying BTC for their treasury or borrowing against BTC to finance business needs or real estate projects.