‘Asia’s MicroStrategy’ Metaplanet Buys Another ¥200 Million in Bitcoin

Main conclusions

• Metaplanet’s recent Bitcoin purchase brings its total assets to 161.27 BTC.
• The company adopts Bitcoin as a reserve asset in response to Japan’s economic conditions.

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Metaplanet, a publicly traded company listed on the Tokyo Stock Exchange and often compared to MicroStrategy, has acquired an additional 20.2 bitcoins (BTC), valued at approximately 200 million Japanese yen (about $1.2 million), the company said in a blog post on Monday.

The latest move marks the company’s fourth Bitcoin purchase in the past four months, bringing its total assets to 161.27 BTC, worth around ¥1.6 billion (over $10 million). The average purchase price per Bitcoin is $63,500, according to Metaplanet.

The company made previous purchases on April 23, May 10, and June 10. After the third purchase, Metaplanet’s shares rose 10%.

Metaplanet, which specializes in hotel and real estate development, has shifted its focus to investing in Bitcoin, using it as a reserve asset amid Japan’s economic challenges.

The company’s move mirrors strategies employed by other large companies, such as MicroStrategy, which uses Bitcoin as a hedge against the weakening yen and economic instability.

As of July 1, global public companies collectively held 321,223 BTC, with MicroStrategy at the forefront, holding 226,331 BTC, which constitutes more than half of its market cap, as reported by BitcoinTreasuries.net.

Japanese companies are increasingly entering the cryptocurrency market. According to a survey by brokerage firm Nomura, up to 54% of fund managers in Japan plan to invest in cryptocurrencies in the next three years.

As reported by Crypto Briefing today, Sony Global acquires Amber Japan and is preparing to launch a cryptocurrency exchange.

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