Bitcoin

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Publicly listed Japanese firm Metaplanet has announced it has bought 1 billion yen ($6.5 million) worth of Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) as a core treasury asset, following in the footsteps of American giant MicroStrategy.
Metaplanet is an investment firm focused on Web3 and metaverse-related businesses. The decision to adopt BTC as a treasury asset was backed by Sora Ventures, UTXO Management, and notable individuals such as Mark Yusko, founder of Morgan Creek Capital, and Jack Liu, a founding member of Ordiswap.
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 Metaplanet announcement. Source: <a href="https://twitter.com/Metaplanet_JP/status/1777243921867014574" target="_blank" rel="noopener nofollow">Metaplanet</a>
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Jason Fang, founder of Sora Ventures, <a href="https://x.com/JasonSoraVC/status/1777300574939058202" target="_blank" rel="noopener nofollow">called </a>Metaplanet “Asia’s first MicroStrategy.” He added that the firm’s adoption of BTC would enable Japanese investors to gain exposure to Bitcoin without regulatory risk.
The adoption of BTC has already <a href="https://x.com/gerovich/status/1777592728257225139" target="_blank" rel="noopener nofollow">helped</a>&nbsp;Metaplanet gain major market momentum, with the stock price up 89% in post-announcement.&nbsp;
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 Metaplanet stock price momentum. Source: Google
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In its official X announcement, Metaplanet called the move a significant milestone, anticipating it would help position the firm “as a pioneer in the adoption of digital assets in Japan.”
Related: <a href="https://cointelegraph.com/news/billionaire-investor-bill-miller-puts-50-of-net-worth-in-bitcoin">Billionaire investor Bill Miller puts 50% of net worth in Bitcoin</a>
Using Bitcoin as a treasury asset was popularized by the Fortune 500 company MicroStrategy, led by Michael Saylor. 
The United States-based public firm started buying Bitcoin in August 2020 when it traded in the $10,000 range. Over the next four years, the Nasdaq-listed firm has amassed over 214,246 BTC at an average purchase price of $33,706.00 per BTC, totaling $6.91 billion. 
The current market value of MicroStrategy’s BTC holding is over $15 billion, giving it over 100% profit.
Even at the peak of the bear market in 2022, when the firm’s BTC holding was running at a loss, Saylor&nbsp;<a href="https://cointelegraph.com/news/microstrategy-ceo-won-t-sell-5b-btc-stash-despite-crypto-winter">refused to sell</a>; instead, he&nbsp;doubled down by buying more. 
Saylor bought Bitcoin as a treasury-hedging asset and motivated other publicly listed companies to adopt it. Saylor claimed he had convinced Tesla CEO Elon Musk to purchase $1.5 billion of BTC in January 2021.
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-ogs-experts-how-to-protect-your-crypto/">How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in</a>

Japanese investment firm sees stock price soar after adopting Bitcoin

Cointelegraph

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