2024

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<p class="is-style-lead">Japanese investment firm Metaplanet has acquired an additional 57.1 BTC after it successfully secured ¥1 billion loan to purchase additional crypto.</p>
<p><a href="https://crypto.news/tag/japan/" target="_blank" rel="noopener noreferrer nofollow">Japanese</a> investment firm Metaplanet Inc., listed in Tokyo, has announced the acquisition of 57.1 BTC, bolstering its cryptocurrency holdings after securing a ¥1 billion loan. The purchase, revealed in an Aug. 13 post on X, is part of Metaplanet’s strategy to expand its crypto investments amid Japan’s shifting economic landscape.</p>
<p>In a <a href="https://contents.xj-storage.jp/xcontents/33500/02202d0f/7ad6/47b4/9d12/0703c1c37d14/140120240812570515.pdf" target="_blank" rel="noopener noreferrer nofollow">regulatory filing</a>, Metaplanet said it acquired 57.103 (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) for an average price of $59,242. With the purchase, Metaplanet still has around ¥500 million to buy Bitcoin, though the timing of the next acquisition remains unspecified.</p>
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   <p lang="en" dir="ltr">*Metaplanet purchases additional 57.10 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>* <a href="https://t.co/QRMPjh0lvD" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/QRMPjh0lvD</a></p>— Metaplanet Inc. (@Metaplanet_JP) <a href="https://twitter.com/Metaplanet_JP/status/1823260074996801934?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 13, 2024</a>
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<p>The acquisition follows Metaplanet’s recent announcement of a ¥1 billion loan from MMXX Ventures, which is a shareholder in the firm. The loan, secured on Aug. 8, carries an annual interest rate of 0.1% and has a six-month term.</p>
<p>As crypto.news <a href="https://crypto.news/japanese-firm-metaplanet-secures-6-8m-loan-to-bolster-bitcoin-holdings/" target="_blank" rel="noopener noreferrer nofollow">reported</a> earlier, Metaplanet plans to raise $70 million through stock rights offerings, with more than 80% of that amount earmarked for buying Bitcoin. The loan and stock rights offerings are part of Metaplanet’s plan to&nbsp;<a href="https://crypto.news/metaplanet-shares-up-20-as-company-buys-another-20-btc/" target="_blank" rel="noopener noreferrer nofollow">grow</a>&nbsp;its crypto holdings. The firm is looking to hedge its long-term growth by leveraging Bitcoin’s potential long-term appreciation, with some analysts predicting the cryptocurrency’s price could go as high as&nbsp;<a href="https://crypto.news/bitcoin-will-hit-1-million-by-2030-says-ark-invest/" target="_blank" rel="noopener noreferrer nofollow">$1 million</a>&nbsp;in the next decade.</p>
<p>Metaplanet’s increased investment in Bitcoin is part of its response to Japan’s economic challenges, including high government debt, extended periods of negative real interest rates, and a weak yen. The firm first announced its intention to boost its Bitcoin holdings in May, highlighting these economic pressures as a driving factor.</p>
<p>Read more: <a href="https://crypto.news/overcoming-challenges-insights-from-japanese-female-entrepreneurs/" rel="noopener noreferrer nofollow"> Overcoming challenges: Insights from Japanese female entrepreneurs </a></p>

Japan’s Metaplanet buys nearly 60 BTC following ¥1b loan

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