bullish

Bitcoin

Enhance

Million

Foundation

<ul>
  
 <li>Metaplanet invests ¥300M more in Bitcoin, raising its total to 400 BTC valued at $22.5M, showing strong confidence despite market shifts.</li>   
 <li>Metaplanet uses ¥229.7M from stock rights to invest further in Bitcoin, aligning with its belief in Bitcoin as a hedge against yen depreciation.</li>   
 <li>Partnering with SBI VC Trade, Metaplanet aims to enhance Bitcoin custody and tax efficiency, reflecting its strategic focus on crypto.</li> 
</ul>   
<p>The publicly listed Japanese business Metaplanet now has ¥300 million more in Bitcoin. As of now, its total Bitcoin value is 400 BTC, or about $22.5 million. Known by the nickname "Asia's MicroStrategy," the corporation considers Bitcoin to be a strategic asset, especially in down markets.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/Metaplanet_JP/status/1833358997937668150 
 </div>
</figure>   
<p>In addition, Metaplanet's <a href="https://x.com/Metaplanet_JP/status/1833141154314924222" target="_blank" rel="noreferrer noopener">11th series</a> of stock acquisition rights were exercised to raise the money needed for the most recent acquisition. An extra ¥229.7 million has been put into Bitcoin by executives. The company's long-term view that Bitcoin is still a strong hedge against government debt and the weakening Japanese yen is supported by this move.</p>   
<h3 class="wp-block-heading" id="h-partnership-with-sbi-vc-trade-to-enhance-bitcoin-custody"><strong>Partnership with SBI VC Trade to Enhance Bitcoin Custody</strong></h3>   
<p>To improve its Bitcoin trading and custody services, Metaplanet has also partnered with SBI VC Trade, the cryptocurrency division of SBI Group. This collaboration aims to enhance corporate Bitcoin custody, improve tax efficiency, and offer Bitcoin as collateral for financing. SBI’s expertise also helps Metaplanet capitalize on Japan’s favorable tax treatment of corporate crypto holdings.</p>   
<p>Significantly, <a href="https://cryptonewsland.com/japanese-firm-metaplanet-raises-%C2%A51-billion-for-major-bitcoin-acquisition/" target="_blank" rel="noreferrer noopener sponsored nofollow">Metaplanet’s latest purchase</a> of 38.46 BTC, priced at an average of 7.79 million yen per BTC, showcases its commitment to increasing its digital asset portfolio. This follows a previous ¥500 million Bitcoin acquisition, further solidifying the company’s position in the cryptocurrency market. Earlier this year, Metaplanet also raised $7 million in BTC through bond sales.</p>   
<h3 class="wp-block-heading" id="h-growing-institutional-interest-and-public-sector-integration"><strong>Growing Institutional Interest and Public Sector Integration</strong></h3>   
<p>Consequently, these strategic moves underscore Metaplanet’s confidence in Bitcoin’s potential. Despite trading below <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener nofollow">$58,000</a> at press time, Bitcoin’s all-time high, driven by institutional demand and U.S. Bitcoin ETFs, remains a <a href="https://cryptonewsland.com/bitcoin-price-movement-shows-a-strong-bullish-setup-is-this-the-100000-reversal-signal/" target="_blank" rel="noreferrer noopener sponsored nofollow">bullish signal for investors</a>. Traditional institutions have increased their exposure, seeing Bitcoin as a hedge against economic uncertainty.</p>   
<p>Additionally, the Proof of Workforce Foundation and Careers in Government Inc. are integrating Bitcoin into public sector welfare packages. This development, alongside Metaplanet’s aggressive Bitcoin purchases, indicates growing demand for the asset across sectors.</p> 
<p>The post <a href="https://cryptonewsland.com/metaplanet-expands-bitcoin-holdings-with-%c2%a5300-million-purchase-amid-market-uncertainty/">Metaplanet Expands Bitcoin Holdings with ¥300 Million Purchase Amid Market Uncertainty</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Metaplanet Expands Bitcoin Holdings with ¥300 Million Purchase Amid Market Uncertainty

Table of Contents

Crypto News Land

Other articles published on Sep 11, 2024

SHIB Price Prediction for September 11

Meme Coin Price Predictions – What’s Next for Dogecoin, Shiba Inu, and Pepe Based on On-Chain Met...

MTS Detects Hundreds of Illegal Mining Farms in Russia

Analyst suggests Bitcoin sellers could get ‘rekt’ when CPI is released

309 Billion Shiba Inu Withdrawal Stuns SHIB Community

The FCA confirms there are no legal crypto ATMs in the UK and is cracking down on illegal machines

Join our free newsletter for daily crypto updates!