2024

Bitcoin

DeFi

Planet

<div class="intro-text">
 Tokyo-listed investment firm Metaplanet has continued to pursue its Bitcoin accumulation strategy aggressively. The company recently purchased 38.464 Bitcoin, valued at approximately 300 million yen ($2 million), bringing its total Bitcoin holdings to 398.832 BTC, worth around 3.75 billion yen ($26 million),<a href="https://drive.google.com/file/d/1tAbvi93qqWrSh1uaDLc_iAO0CU_BqxUp/view?usp=drivesdk" rel="noopener noreferrer nofollow"> according to a new company statement.</a>
</div>
This latest move reinforces Metaplanet’s commitment to shifting its treasury focus towards Bitcoin, a strategy that has earned it the moniker “Asia’s MicroStrategy.” The firm recently completed a campaign it started since May 2024 to acquire ¥1 billion worth of cryptocurrency.
Metaplanet’s Board of Directors<a style="color: #0000ff;" 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"> endorsed this pivot towards Bitcoin</a>, citing Japan’s high debt levels, negative interest rates, and a weakening yen as key motivators.
The company’s commitment to this strategy is further demonstrated by its August 8 announcement that it has secured a one billion yen ($6.8 million) loan to expand its Bitcoin holdings. This loan, obtained at an annual interest rate of 0.1%, is set to be repaid over six months.
The company also<a href="https://drive.google.com/file/d/1Nb8eP_8_Ko-BDfCXrYqgfBD02cgNKe4V/view" rel="noopener noreferrer nofollow"> initiated</a> a ¥10.08 billion ($69.44 million) stock acquisition rights allotment, with plans to invest approximately 8.5 billion yen ($58.76 million) of the proceeds in Bitcoin.
In another move to strengthen its Bitcoin strategy, Metaplanet has<a href="https://defi-planet.com/2024/09/metaplanet-partners-with-sbi-holdings-crypto-division-to-enhance-its-bitcoin-strategy/" rel="noopener noreferrer nofollow"> formed</a> a strategic partnership with SBI VC Trade, the cryptocurrency division of SBI Holdings. Announced on September 2, 2024, this collaboration aims to enhance both companies’ capabilities in Bitcoin trading, storage, and management. SBI VC Trade will provide Metaplanet with a compliant corporate custody service, emphasizing tax efficiency and the use of Bitcoin as collateral for financing.
Metaplanet views this partnership as a crucial step in advancing its Bitcoin accumulation strategy while working alongside leading Japanese industry stakeholders. As the company continues to expand its Bitcoin holdings and forge strategic alliances, it solidifies its position as a significant player in the cryptocurrency investment landscape, particularly within the Asian market.
&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/09/metaplanet-expands-bitcoin-holdings-with-2m-purchase/" rel="noopener noreferrer nofollow">Metaplanet Expands Bitcoin Holdings with $2M Purchase</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Metaplanet Expands Bitcoin Holdings with $2M Purchase

DeFi Planet

Other articles published on Sep 10, 2024

ApeCoin Launches BluePrint Initiative to Enhance ApeChain with New Tools and Content

Successful Yacht Networking Event Hosted by LBank and Kaspa: A Night to Remember

FTX Bankruptcy Plan Faces Scrutiny as SEC Questions Stablecoin Payments

Aergo (AERGO) Price Rockets 25% on Binance Perpetual Contract Launch

Why Every LandRocker Player Needs the Premier Collection

Analysts Explained! "While Investors Expect a Fall in Bitcoin and Ethereum, They Expect a Rise in...

Join our free newsletter for daily crypto updates!