Bitcoin

Bold

Coin

<ul class="news-points">
 <li>Metaplanet to buy 1B yen in Bitcoin with bond funds.</li>
 <li>Bitcoin for long-term holding recorded at cost, exempt from market value taxes.</li>
 <li>Bitcoin for operations valued quarterly, gains or losses recorded in income statement.</li>
</ul>
Metaplanet, dubbed Asia’s “Microstrategy,” plans to purchase 1 billion yen worth of Bitcoin using proceeds from its second series of ordinary bonds. This decision was reached during a recent <a href="https://contents.xj-storage.jp/xcontents/33500/be5f5cac/3cbe/445b/9890/15ba01b5994d/140120240620533309.pdf" target="_blank" rel="noopener noreferrer nofollow">Board of Directors meeting</a>. The Japanese firm also disclosed its policy for recording and evaluating its Bitcoin holdings, classifying them as long-term or operational.
For Bitcoin held long-term, Metaplanet will record the purchase cost, exempting them from end-of-term market value assessment taxation. BTC not allocated for the long term will be assessed at market value at the end of each quarter, with gains or losses recorded under non-operating income or expenses.
If Bitcoin is used for operations, the remaining balance will be classified as current assets. However, the firm reaffirmed its commitment to holding Bitcoin for the long term. Such policies are essential for transparent financial reporting and reducing market speculation and potential mani…
The post <a href="https://coinedition.com/asias-microstrategy-metaplanets-bold-1b-bitcoin-bet/" rel="noopener noreferrer nofollow">Asia’s Microstrategy? Metaplanet’s Bold $1B Bitcoin Bet</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Asia’s Microstrategy? Metaplanet’s Bold $1B Bitcoin Bet

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