Japanese investment firm Metaplanet has made a significant move by purchasing 1 billion yen ($6.5 million) worth of Bitcoin (BTC) as a core treasury asset. Following in the footsteps of American giant MicroStrategy, Metaplanet’s decision was supported by Sora Ventures, UTXO Management, and notable individuals such as Mark Yusko and Jack Liu. This adoption of BTC has already had a positive impact on Metaplanet, with its stock price rising by 89% after the announcement. Founder of Sora Ventures, Jason Fang, referred to Metaplanet as “Asia’s first MicroStrategy,” highlighting that this move would allow Japanese investors to enter the Bitcoin market without regulatory risks. Metaplanet sees this move as a significant milestone, positioning the firm as a pioneer in the adoption of digital assets in Japan. The practice of using Bitcoin as a treasury asset was popularized by MicroStrategy, which has accumulated over 214,246 BTC with a current market value of over $15 billion. MicroStrategy’s CEO, Michael Saylor, has been a strong advocate for Bitcoin and has motivated other publicly listed companies to adopt it as well.
Bitcoin adoption propels stock price of Japanese investment firm to new heights