Metaplanet Purchases Additional 20 Bitcoin, Bringing Total to 161 BTC

Japanese investment firm Metaplanet has announced the acquisition of over 20.2 Bitcoin as part of its ongoing strategy to bolster its BTC holdings. The Tokyo-based firm invested 200 million yen (approximately $1.2 million) to acquire the additional Bitcoin, bringing its total holdings to 161.3 BTC. The company shared the news on its social media account, X, shortly after the close of trading on the Tokyo Stock Exchange.

Metaplanet’s $6M Bitcoin Investment Strategy

Just last week, Metaplanet outlined its intention to expand its Bitcoin holdings with a $6 million investment, funded by a recent bond sale. The company, often referred to as “Asia’s MicroStrategy,” will record its long-term Bitcoin holdings at their acquisition cost, exempt from taxation based on end-of-term market value assessments. Other Bitcoin holdings will be evaluated at market prices each quarter, with any gains or losses recorded under non-operating income or expenses.

In April, Metaplanet decided to incorporate Bitcoin into its treasury assets to minimize exposure to the Japanese yen, which has been affected by Japan’s low-interest-rate environment. The company views Bitcoin as a hedge against inflation, a tool for macroeconomic resilience, and a source of long-term capital appreciation.

Corporate Treasurers Explore Bitcoin

Metaplanet’s approach mirrors the strategy of MicroStrategy, a Virginia-based software developer that has been purchasing Bitcoin for nearly four years, now holding over 226,000 BTC. This trend of corporate treasurers exploring Bitcoin as a reserve asset is gaining traction amidst macroeconomic uncertainties, characterized by rising inflation and geopolitical tensions.

Abra, a digital asset prime services platform, recently launched a service for corporates looking to hold cryptocurrencies as reserve assets. Marissa Kim, Head of Asset Management at Abra Capital Management, noted an increasing interest among non-crypto-native businesses, particularly real estate companies, in using Bitcoin as a treasury reserve asset or as collateral for business needs.