On April 8, Metaplanet Inc. (TYO: 3350), a Japanese consulting and investment firm listed on the stock exchange, revealed its plan to adopt Bitcoin as the primary asset for the company’s treasury, allocating an initial amount of approximately JPY 1 billion.
Metaplanet Inc., based in Japan and traded on the Tokyo Stock Exchange’s Standard Section, serves as a significant link between Japan and the global market. The company boasts over ten years of experience in a variety of sectors, including hotel development and operations, and has broadened its knowledge into Web3 consulting, real estate development, and strategic investments. With headquarters in Japan, Metaplanet utilizes a versatile workforce proficient in finance, real estate, and Web3 technologies to manage its global activities. Effectively acting as a conduit between the Web2 and Web3 worlds and traditional and advanced technologies and services, Metaplanet continues to make strides in connecting Japan with the latest innovations.
On April 8th, the company announced on social media platform X (previously referred to as Twitter), their intention to incorporate Bitcoin into their financial plan as a primary treasury asset. With an initial investment of approximately 1 billion Japanese Yen ($6.5 million), they are not just altering their financial strategy but redefining their position in the future finance-innovation intersection.
Metaplanet’s announcement showcases the participation of some notable partners and investors in realizing its vision. These include Sora Ventures, a crypto investment firm based in Taipei; UTXO Management, a Bitcoin investment firm; Mark Yusko, founder and CEO of Morgan Creek Capital Management; Jsck Liu, creator of Ordswap, a trustless exchange for trading Ordinals (NFT-like assets on Bitcoin); and Batara Eto, co-founder and managing partner at East Ventures, a venture capital firm with a focus on Southeast Asia and Japan, investing in tech startups.
Today, we’re excited to share some significant news about our financial direction: The Company will now hold Bitcoin as its primary treasury asset, with an initial investment of JPY 1 billion. This transition signifies more than just adopting digital currency; it’s also about…
— Metaplanet Inc. (@Metaplanet_JP) April 8, 2024
Metaplanet’s share price experienced a significant jump after the announcement, increasing by a notable 89.47%, from 19 yen to 36 yen – a new record high.
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2024-04-09 14:05