MetaPlanet

Bitcoin

DeFi

Million

Planet

<div class="intro-text">
 Japanese investment firm MetaPlanet has significantly increased its Bitcoin (BTC) holdings, purchasing 42.47 BTC for over 400 million yen (approximately $2.8 million USD), according to<a style="color: #0000ff;" href="http://contents.xj-storage.jp/xcontents/33500/45ad0209/87f1/4786/bced/9e17dc876d4e/140120240705545154.pdf?data=892342crypto923642news928734" rel="noopener noreferrer nofollow"> a press release issued</a> on Monday, July 8, 2024. 
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This acquisition brings the firm’s total Bitcoin assets to 203.743 BTC, valued at about 2.05 billion yen ($14.4 million USD).
The company reported an average purchase price of around 9.42 million yen per BTC ($66,000 USD) for this latest transaction.
This development follows<a style="color: #0000ff;" href="https://defi-planet.com/2024/06/metaplanet-to-issue-1-billion-yen-in-bonds-to-acquire-more-bitcoin/" rel="noopener noreferrer nofollow"> MetaPlanet’s recent move to acquire over 1 billion yen ($6.26 million USD) worth of Bitcoin through bond issuance</a>. The bonds, approved by the company’s management board, will be issued via EVO FUND with a 0.5% annual interest rate and are set to mature on June 25, 2025.
MetaPlanet’s Bitcoin-centric strategy,<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/tokyo-based-investment-firm-metaplanet-shifts-to-bitcoin-only-reserve-strategy-amid-yens-decline/" rel="noopener noreferrer nofollow"> announced in in May 2024</a>, is a response to Japan’s challenging economic landscape. The company cited high government debt, long-term negative real interest rates, and a weakening national currency as key factors driving its decision to adopt a Bitcoin-first and Bitcoin-only approach in its treasury management.
This investment strategy comes against the backdrop of Japan’s ongoing economic struggles, characterized by an ageing population, long-term stagnation, and a shrinking workforce.<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/bitcoin-and-altcoins-might-gain-from-the-falling-japanese-yen-dante-cook/" rel="noopener noreferrer nofollow"> The Japanese yen has recently hit new all-time lows against major currencies like the Euro and US dollar</a>.<a style="color: #0000ff;" href="https://asia.nikkei.com/Business/Markets/Currencies/Why-is-Japan-s-yen-falling-Retail-investors-are-one-reason#:~:text=The%20yen's%20tumble%20in%20value,the%20trade%20deficit%20is%20shrinking." rel="noopener noreferrer nofollow"> Local media attributes the yen’s three-year decline</a> primarily to the widening gap between domestic and international interest rates, coupled with a growing trade deficit.
MetaPlanet’s pivot towards Bitcoin highlights a growing trend among Japanese companies seeking alternative stores of value amidst economic uncertainty, potentially signalling a shift in corporate treasury management strategies in the region.
READ MORE: <a style="color: #0000ff;" href="https://defi-planet.com/2024/06/survey-over-half-of-japanese-investment-managers-to-enter-digital-asset-market-by-2027/" rel="noopener noreferrer nofollow">Survey: Over Half of Japanese Investment Managers to Enter Digital Asset Market by 2027</a>
Meanwhile, the company recently<a style="color: #0000ff;" href="https://contents.xj-storage.jp/xcontents/33500/d655f2ce/d6e2/47bc/ba06/8eccca4c67a1/140120240624535445.pdf" rel="noopener noreferrer nofollow"> announced</a> that it is creating a wholly-owned subsidiary in the British Virgin Islands (BVI) to optimize its Bitcoin-centric financial strategies. The new entity, set to launch in July 2024 with an initial capital of US$10,000, will focus on holding Bitcoins and engaging in Bitcoin-related business activities.&nbsp;
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The post <a href="https://defi-planet.com/2024/07/metaplanet-expands-bitcoin-holdings-with-2-8-million-purchase/" rel="noopener noreferrer nofollow">MetaPlanet Expands Bitcoin Holdings with $2.8 Million Purchase</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

MetaPlanet Expands Bitcoin Holdings with $2.8 Million Purchase

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