Buying Bitcoin from Metaplanet
Japanese company Metaplanet has announced the purchase of an additional ¥250 million (approximately $1.8 million) in Bitcoin, adding 23.35 Bitcoin to the company's holdings. As of June 11, Metaplanet holds approximately 141 Bitcoin, acquired for ¥1.45 billion at an average price of ¥10,278,391 (approximately $65,000) per Bitcoin. The company began using Bitcoin as a treasury reserve asset in April 2024, making an initial investment of ¥1 billion, followed by additional purchases.
Share price and strategy
Following this latest purchase, Metaplanet's share price rose 10%. This marks the third Bitcoin purchase in seven weeks and has led to a nearly fivefold increase in the share price since April. The strategy aims to hedge against Japan's national debt and the devaluation of the yen. It mirrors the approach of MicroStrategy, a US company that also uses Bitcoin as a corporate reserve.
Benefits for Japanese investors
Japanese investors benefit from owning Metaplanet shares as they offer indirect exposure to Bitcoin's potential without having to pay high crypto taxes on unrealized gains, while also avoiding regulatory hurdles as the shares are listed on the Tokyo Stock Exchange. Metaplanet's adoption of Bitcoin reinforces Bitcoin's legitimacy as a treasury asset and demonstrates its potential as an inflation hedge and store of value.
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