Japan’s Metaplanet Prepares for $6 Million Bitcoin Acquisition

Japan-based investment advisor Metaplanet plans to boost its Bitcoin (BTC) holdings by another $6 million. This move aligns with the firm’s long-term strategy of increasing its Bitcoin reserves.

Metaplanet announced its Board of Directors’ resolution to purchase Bitcoin worth 1 billion yen ($6 million). The firm stated, “Metaplanet Inc. (3350) hereby announces that the Board of Directors has resolved to purchase Bitcoin worth 1 billion yen as of today’s meeting.” They clarified that while Bitcoin is primarily for long-term holding, any Bitcoin used for operations will be recorded as current assets.

The funding for this purchase comes from an upcoming bond issuance with an annual interest rate of 0.5%, maturing on June 25, 2025. Following this announcement, Metaplanet’s stock prices surged by 12% during Tokyo trading hours, according to Yahoo Finance.

Strategic Shift to Bitcoin

Metaplanet began buying Bitcoin in April to reduce its yen exposure and provide Japanese investors with access to crypto assets under a preferential tax structure. In May, the company officially adopted BTC as a reserve asset and continued its purchases, acquiring another $1.6 million worth in June. Currently, Metaplanet holds 141 BTC, making it Japan’s largest corporate Bitcoin holder, as reported by Bitcointreasuries.

Metaplanet’s significant investment reflects its confidence in Bitcoin as a strategic reserve asset, positioning the company as a leader in Japan’s corporate cryptocurrency holdings.