Metaplanet Acquires ¥300 Million in Bitcoin, Expands Holdings to 398.8 BTC

Metaplanet has continued to express its optimism about Bitcoin, making another acquisition of BTC following a previous purchase in August. The Japanese organization had previously hinted at plans to acquire more crypto assets, specifically Bitcoin, to add flexibility to its financial portfolio and use as collateral for funding opportunities. These moves have intensified since the Japanese government began allowing corporate entities to take ownership of their own crypto assets.

In a statement dated September 10, 2024, the investment firm, listed on the Tokyo Stock Exchange, announced the acquisition of an additional $2 million worth of Bitcoin. The purchase, valued at approximately 300 million Japanese yen, added around 38.5 Bitcoins to its holdings, bringing the firm’s total Bitcoin assets to 398.8 BTC, with over $26 million invested in total.

Metaplanet’s ongoing Bitcoin acquisitions have boosted investor sentiment, positively impacting the company’s stock performance. On September 10, its shares rose by 4.42%, trading as high as 2,000 Japanese yen before closing at 1,086 yen, as reported by Yahoo Finance.

Experts view Metaplanet’s recent acquisitions as a proactive response to Japan’s current economic challenges. With the government holding a staggering 254.6% debt-to-GDP ratio—the highest among developed nations—storing company assets in Japanese yen seems increasingly risky due to the yen’s devaluation amid unfavorable economic conditions.

Bitcoin, by contrast, offers Metaplanet the opportunity to store assets in a non-sovereign form that has historically appreciated against national currencies. Additionally, the company’s partnership with SBI Group’s crypto unit, SBI VC Trade, will help Metaplanet optimize tax efficiency with these acquisitions.