Metaplanet Inc. Doubles Down on Bitcoin (BTC) Strategy, Expands Strategic Holdings to $33M

Metaplanet Inc., a publicly traded Japanese firm, has doubled down on Bitcoin (BTC), expanding its strategic holdings with the announcement of an additional investment of ¥1 billion [$7 million] in BTC.

Japanese firm Metaplanet has increased its strategic Bitcoin holdings with an additional investment of 1 billion yen ($7 million), bringing its total BTC holdings to 4.75 billion yen.

Apart from direct acquisitions, Metaplanet also leverages debt financing to accelerate BTC accumulation. In August, the firm obtained a loan of 1 billion yеn ($6.8 million) at a remarkably low interest rate of 0.1%. These funds were quickly utilized to acquire an additional 115 BTC by August 20th.

It has also forged strategic alliances with numerous stakeholders to bolster its Bitcoin strategy. Last week, the company revealed a partnership with SBI VC Trade, a division of the Japanese financial conglomerate SBI Group. This partnership aims to provide a secure and tax-efficient corporate custody service for its clients.

In addition, the collaboration explores the potential of utilizing Bitcoin as collateral for financing, opening up new avenues for asset leverage.

In July, Metaplant joined hands with Hoseki, a leading Bitcoin verification solution provider. This collaboration empowers its users to independently verify the company’s BTC holdings at any given time, fostering transparency and trust within the investor community.

Metaplanet Bets Big on Bitcoin Despite Market Dip

That said, Metaplanet’s latest purchase comes amid a recent decline in BTC’s price, which dropped by 3% due to a “long squeeze” in the futures market. Liquidations in the past 24 hours reached $181 million, with $49 million attributed to BTC alone.

Rising interest rates and the changing leadership in Japan have contributed to a cautious sentiment across the markets. Some analysts are raising concerns about the potential for another overheating in the futures market.

Shigeru Ishiba, Japan’s next Prime Minister and the newly elected head of Japan’s ruling Liberal Democratic Party, has disclosed pro-blockchain and NFT policies. Ishiba is slated to appoint the LDP’s current web3 taskforce chief Masaaki Taira as the government’s new Minister of Digital Affairs. Taira recently hinted that Japan needs to reform its tax system to help boost crypto startups.

Overall, Metaplanet’s aggressive Bitcoin strategy, coupled with its strategic partnerships and innovative initiatives, positions the company as a frontrunner in the Japanese corporate world.

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