The publicly listed Japanese company Metaplanet Inc. has significantly boosted its Bitcoin (BTC) strategy. According to the latest update, Metaplanet purchased a total of 20,195 Bitcoins at an average price of ¥9,903,440 per Bitcoin, with this latest tranche valued at approximately ¥200 million, or $1,242,180.
Metaplanet began its Bitcoin accumulation strategy earlier this year, inspired by MicroStrategy’s approach. Metaplanet is now the first publicly listed Asian company to fully adopt Bitcoin as a treasury reserve asset.
Metaplanet has become more consistent in its Bitcoin accumulation strategy compared to MicroStrategy. According to a previous report by coinshibainu, Metaplanet now acquires Bitcoin approximately every two months. Following this latest purchase, the company announced it has increased its Bitcoin holdings to 161.2677 Bitcoins at an average price of ¥10,231,438 per unit, bringing its total Bitcoin portfolio to a market value of ¥1.65 billion, or $10.24 million.
Metaplanet also acquired some Bitcoin through a debt offering, issuing ¥1 billion in bonds on June 24, with the proceeds used to buy more Bitcoin.
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In an effort to focus more on Bitcoin, the company announced the establishment of a subsidiary in the British Virgin Islands (BVI). This BVI entity will help meet the needs of Bitcoin purchases and other Bitcoin-related businesses. With this latest move, Metaplanet aims to foster broader interest in Bitcoin, a trend that other multinational Asian companies might adopt in the near future.
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