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 Metaplanet, a publicly traded investment firm based in Tokyo, has recently <a style="color: #0000ff;" href="https://contents.xj-storage.jp/xcontents/33500/78d457c2/7534/4ed6/abe3/90f046c452cf/140120240510590390.pdf" rel="noopener noreferrer nofollow">announced</a> a strategic shift in its treasury management strategy, opting for a Bitcoin-first and Bitcoin-only approach.&nbsp;
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 “This move is a direct response to sustained economic pressures in Japan, notably high government debt levels, prolonged periods of negative real interest rates, and the consequently weak yen,” 
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the company stated in a statement published on May 13, 2024.&nbsp;
The <a style="color: #0000ff;" href="https://www.aljazeera.com/economy/2024/4/30/why-is-japans-yen-so-weak-against-the-us-dollar" rel="noopener noreferrer nofollow">decline</a> of the Japanese yen against the U.S. dollar has been a major concern, with the yen reportedly being the worst-performing currency among major currencies in 2024.&nbsp;
<a style="color: #0000ff;" href="https://asia.nikkei.com/Business/Markets/Currencies/Why-is-Japan-s-yen-falling-Retail-investors-are-one-reason#:~:text=The%20yen's%20tumble%20in%20value,the%20trade%20deficit%20is%20shrinking." rel="noopener noreferrer nofollow">Local sources</a> attribute the yen’s depreciation over the past three years primarily to the disparity between domestic and foreign interest rates, coupled with an increasing trade deficit.
RELATED:<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/bitcoin-and-altcoins-might-gain-from-the-falling-japanese-yen-dante-cook/" rel="noopener noreferrer nofollow">Bitcoin and Altcoins Might Gain From the Falling Japanese Yen – Dante Cook</a>
Metaplanet’s embrace of Bitcoin follows closely on the heels of its <a style="color: #0000ff;" href="https://twitter.com/Metaplanet_JP/status/1777243921867014574?t=bOYevMxhoM6r2tBelFcSEA&amp;s=19" rel="noopener noreferrer nofollow">announcement</a> in early April regarding its new Bitcoin-focused strategy. At that time, the company revealed the completion of its initial Bitcoin purchase, valued at $6.5 million.
While the announcement did not specify the exact amount of Bitcoin currently held or planned to be held in Metaplanet’s treasury, the firm recently <a style="color: #0000ff;" href="https://contents.xj-storage.jp/xcontents/33500/d6c0a821/cb05/4b92/a47b/ce61ea935a66/140120240509587510.pdf" rel="noopener noreferrer nofollow">disclosed</a> the purchase of 117.7 BTC ($7.19 million) at an average price of around 10.2 million yen, or $65,000.&nbsp;
<a href="https://www.bloomberg.com/profile/company/3350:JP" rel="noopener noreferrer nofollow">Metaplanet</a>, which was founded in 1999 and initially focused on traditional investments, has diversified its portfolio to include a hotel business, investment services, and an investor relations consultancy.&nbsp;
With a market value of around 3.5 billion yen, or roughly $20 million according to <a style="color: #0000ff;" href="https://www.marketwatch.com/investing/stock/3350?countrycode=jp" rel="noopener noreferrer nofollow">Marketwatch</a>, Metaplanet’s decision to prioritize Bitcoin has led to a sharp increase in the price of its shares on the <a href="https://www.cnbc.com/quotes/3350.T-JP" rel="noopener noreferrer nofollow">Tokyo Stock Exchange</a>.&nbsp; However, the company’s recent <a style="color: #0000ff;" href="https://contents.xj-storage.jp/xcontents/33500/ad9ae0a7/1553/4ce1/9d76/c4dc0b0d08ce/140120240507582177.pdf" rel="noopener noreferrer nofollow">appointment</a> of market researcher Dylan LeClair as director of Bitcoin strategy further signals its commitment to digital assets.
Metaplanet’s CEO, Simon Gerovich, <a style="color: #0000ff;" href="https://twitter.com/gerovich/status/1788885236866236887?t=fTSNWZUwd3uEqUmFs4UPgg&amp;s=19" rel="noopener noreferrer nofollow">expressed</a> optimism about the future, stating, “This is just the beginning,” in an X post about the company’s plan to acquire more Bitcoin on May 9.
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The post <a href="https://defi-planet.com/2024/05/tokyo-based-investment-firm-metaplanet-shifts-to-bitcoin-only-reserve-strategy-amid-yens-decline/" rel="noopener noreferrer nofollow">Tokyo-based Investment Firm Metaplanet Shifts to Bitcoin-Only Reserve Strategy Amid Yen’s Decline</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Tokyo-based Investment Firm Metaplanet Shifts to Bitcoin-Only Reserve Strategy Amid Yen’s Decline

DeFi Planet

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