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Metaplanet Expands Bitcoin Holdings with $6M Purchase

Discover how Metaplanet secures its position as Japan’s top Bitcoin holder with a $6M investment boost
June 25, 2024

Metaplanet, a leading Japan-based investment advisor, has announced plans to bolster its Bitcoin holdings by acquiring over $6 million worth of the cryptocurrency. This move follows their strategy to diversify assets and capitalize on the growing adoption of digital currencies among Japanese investors.

Metaplanet Inc. disclosed in a recent statement that its Board of Directors has greenlit the purchase of Bitcoin equivalent to 1 billion yen. This decision is part of their ongoing initiative to integrate Bitcoin into their investment portfolio for long-term stability. The firm, already holding $9 million worth of Bitcoin, aims to leverage funds from an upcoming bond issuance to finance this acquisition.

The bond issuance, slated for Wednesday, offers an attractive 0.5% annual interest rate and will mature by June 25, 2025. Following the announcement, Metaplanet's stock surged by up to 12% during Tokyo trading hours, according to Yahoo Finance data.

Metaplanet began accumulating Bitcoin in April as a strategic measure to mitigate exposure to the yen and provide Japanese investors with access to cryptocurrencies under advantageous tax conditions. By formally adopting Bitcoin as a reserve asset in May and subsequent purchases totaling $1.6 million in June, Metaplanet now holds 141 BTC, making it Japan's largest corporate holder of Bitcoin, as reported by Bitcoin Treasuries.

Metaplanet's proactive approach to enhancing its Bitcoin holdings underscores its commitment to diversifying investment strategies amid evolving market dynamics. With plans to utilize proceeds from the bond issuance, Metaplanet not only aims to strengthen its cryptocurrency portfolio but also positions itself at the forefront of Japan's corporate adoption of digital assets.

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