Metaplanet Increases Bitcoin Holdings with $3.5 Million Purchase
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Metaplanet, a prominent Japanese public company, has further increased its Bitcoin holdings with a new purchase of ¥500 million worth of BTC, announced CEO Simon Gerovich on X.
This recent acquisition raises Metaplanet’s total Bitcoin reserves to approximately 303 BTC, valued at close to $18 million.
The purchase follows the company’s recent announcement of securing a ¥1 billion loan specifically for Bitcoin investments.
Additionally, Metaplanet plans to generate around $70 million through a stock rights offering, with about $58 million earmarked for more Bitcoin acquisitions.
Despite Bitcoin’s market downturn, Metaplanet remains dedicated to leveraging the cryptocurrency as a treasury reserve asset. This strategy aims to provide Japanese investors with Bitcoin exposure and take advantage of favorable tax conditions.
Inspired by MicroStrategy’s approach in the US, Metaplanet sees Bitcoin as a long-term strategic investment and a safeguard against the yen’s depreciation and Japan’s significant government debt.
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