Japanese company Metaplanet has reinvested its excess cash into Bitcoin, its main store of value asset.
In a statement released on May 28, Metaplanet, listed on the Tokyo Stock Exchange (Japan), announced a new investment of 250 million yen in Bitcoin, the largest cryptocurrency on the market in terms of market capitalization.
Based on the Bitcoin price at the time of the announcement, Metaplanet may have acquired, on average, about 23 BTC, with this new investment equivalent to about $1,6 million.
Nearly two months ago, Metaplanet made a major announcement, revealing that Bitcoin would become the primary store of value asset in its corporate treasury. The company’s decision follows economic instability in Japan, which has weakened the national currency, the Japanese yen.
Given the existing risks, Metaplanet stressed that it would reduce its exposure to the yen and that I would trust in Bitcoin's potential as a long-term store of value, to protect your capital from inflation and financial instability.
To date, Metaplanet has invested a total of $8,19 million in the market-leading cryptocurrency.
A strategic transformation to preserve value with Bitcoin
In April, Metaplanet launched a strategy similar to that of the American company MicroStrategy to transform its treasury reserves with Bitcoin.
By adopting cryptocurrency, Metaplanet seeks to protect itself against the depreciation of the Japanese yen, as well as create new opportunities for its growth.
“As the yen continues to weaken, Bitcoin offers a non-sovereign store of value that has appreciated, and can continue to appreciate, against traditional fiat currencies,” he said.
That said, the company has pledged to prioritize the acquisition of bitcoins, making recurring purchases of the cryptocurrency using its “long-term yen liabilities and periodic equity issuances as strategic financial options.” All of this, in order to accumulate more and more bitcoins, instead of holding on to the weakened Japanese yen, the company emphasized.
Metaplanet invites companies to follow its example
In addition to announcing a new investment in Bitcoin, Metaplanet has also extended an invitation for other companies to invest in this cryptocurrency.
From its account on X (formerly Twitter), the public company offered to collaborate with companies that want to protect their value from monetary inflation, adopting an alternative asset of a unique nature such as Bitcoin.
“Our mission is to accelerate the monetization and adoption of Bitcoin, both in Japan and abroad,” Metaplanet said.
The company is looking into cooperation and collaboration with other Japanese and global companies to accelerate the adoption of Bitcoin as a store of value and boost its recognition as a global asset.
