🌎 Metaplanet Buys 42.4 Bitcoin for $2.4M as Strategic Reserve Asset

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Japanese public investment firm Metaplanet is reinforcing its long-term holding strategy with another significant Bitcoin purchase.

Metaplanet has announced the acquisition of an additional 42.4 Bitcoin for ¥400 million ($2.4 million) as the crypto market strives to reclaim the $60,000 threshold. This move aligns with Metaplanet’s strategy to hold Bitcoin as a “strategic treasury reserve asset.” With this latest purchase, Metaplanet’s total Bitcoin holdings now exceed 203 BTC.

This acquisition follows Metaplanet’s recent allocation of over $6.2 million through the issuance of the second series of ordinary bonds, aimed at buying Bitcoin for long-term holding. The bonds, offered through EVO FUND, come with an annual interest rate of 0.5% and will mature on Jun. 25, 2025.

Despite the bonds having no collateral, Metaplanet has secured them with a first-priority mortgage on the land and building of Hotel Royal Oak Gotanda, owned by its subsidiary, Wen Tokyo Inc., to cover all monetary claims.

“Metaplanet’s strategy to hold Bitcoin as a strategic treasury reserve asset demonstrates their confidence in the long-term potential of cryptocurrency.”

In May, Metaplanet announced plans to start buying Bitcoin in response to ongoing economic pressures in Japan, citing high government debt levels, prolonged periods of negative real interest rates, and a consequently weak yen.

In late June, a survey by Nomura and Laser Digital revealed that over 500 investment managers in Japan are considering investing in crypto. The survey also indicated that around half of the respondents are open to using stablecoins for settlements and daily transactions.

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