Japanese investment firm Metaplanet, famously known as “Asia’s MicroStrategy,” has expanded its Bitcoin holdings to over 398 BTC. Its announcement on X (formerly Twitter) indicated that it purchased an additional 38.4 BTC worth around $2.1 million. This further solidifies its position as a major player in the crypto market.
Metaplanet Purchases More BTC
Earlier, the firm announced its desire to exercise the 11th series of stock acquisition rights, allowing the management team to purchase company shares at a set price. Since this event was successful, Metaplanet has invested $2.2 million (¥299,700,000) representing 540,000 warrants to acquire Bitcoin. The company will begin delivering shares on September 18.
By directing funds raised through the stock acquisition rights into Bitcoin purchase, the Japanese firm shows its seriousness about being a “pioneer in the adoption of digital assets in Japan.” The firm has shown that this move is not a short-term reaction to market trends but a calculated approach to solidifying its position in the crypto industry.
Metaplanet seems committed to holding Bitcoin as a treasury reserve asset, even amidst the current market downturn. By doing so, the company seeks to offer Japanese investors a unique opportunity to gain exposure to Bitcoin while taking advantage of beneficial tax incentives.
Metaplanet Takes Steps Toward BTC Investment Goals
Metaplanet has made several notable Bitcoin purchases in the past, including a $3.4 million acquisition of 57 BTC, and a $1.2 million purchase of 20 BTC. These strategic buys reflect the company’s commitment to building its Bitcoin reserves.
Its BTC purchases echo the investment approach of MicroStrategy. By accumulating Bitcoin, Metaplanet aims to mitigate the risks associated with yen depreciation. This move makes the first and largest crypto a strategic hedge and a major asset in its portfolio.
Metaplanet has also partnered with SBI VC Trade to enhance its Bitcoin services, gaining access to compliant custody, improved tax efficiency, and BTC-based financing. SBI will provide trading, storage, and operational support. It will also offer tax exemption benefits to support long-term corporate crypto holdings.
