Ambitious Bitcoin Accumulation Strategy
Metaplanet, often called “Japan’s MicroStrategy,” announced plans to raise $62 million to expand its Bitcoin holdings. The funds will be raised through a stock issuance aimed at reducing reliance on the depreciating yen.Bitcoin as a Treasury Strategy
Citing Bitcoin’s recent near-$100,000 price and Japan’s currency challenges, Metaplanet views the cryptocurrency as a hedge against inflation. The firm’s strategy mirrors MicroStrategy’s aggressive Bitcoin acquisition, aligning with its belief in Bitcoin’s growing prominence.Regulatory and Market Implications
The stock issuance awaits approval under Japanese financial regulations, with execution planned for December 2024 to June 2025. Metaplanet’s pivot away from unprofitable metaverse ventures underscores its commitment to Bitcoin as a core asset for long-term growth.
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