Metaplanet Inc. plans to increase Bitcoin holdings
Metaplanet Inc., a Japanese company listed on the Tokyo Stock Exchange, plans to increase its Bitcoin holdings by purchasing an additional 250 million yen (approximately $1.6 million) of Bitcoin. The decision was made during a recent board meeting and highlights a strategic approach to cryptocurrency investments.
Strategic management of Bitcoin holdings
Metaplanet differentiates its Bitcoin management based on holding period: Bitcoins held for the long term are accounted for at purchase price to ensure consistent financial reporting. In contrast, short-term holdings are revalued quarterly to reflect current market prices. This revaluation impacts the non-operating income reported in financial reports. This investment is part of a broader trend where global companies are increasingly adopting Bitcoin as a significant asset, demonstrating its growing acceptance.
Expanding the Bitcoin portfolio
In addition, Metaplanet had previously expanded its Bitcoin portfolio during the month by acquiring an additional 19.87 BTC (Bitcoin) for 200 million yen.
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