Metaplanet Concludes Media Deal After Buying First BTC
Metaplanet, a Japanese company, has been collecting Bitcoin for six months and is now preparing to enter the crypto media industry by establishing a local version of Bitcoin Magazine.
Just six months after purchasing Bitcoin for the first time, Tokyo-based investment firm Metaplanet Inc. has agreed to license a Japan-based franchise of crypto news media outlet Bitcoin Magazine.
Metaplanet Acquires BTC Media Inc
On November 25, the investment firm announced that it had finalized an exclusive licensing agreement with BTC Media Inc., a subsidiary of BTC Inc. that manages the publication, to acquire “the rights to launch Bitcoin Magazine Japan.”
Metaplanet stated that the outlet is scheduled for a “complete rollout” in the first quarter 2025. In July, the two organizations executed an agreement that authorized the company to manage the publication. The firm has also received investment from UTXO Management, the venture capital subsidiary of BTC Inc.
The company stated that Japan is a critical market for Bitcoin adoption due to its significant role in global finance and technology. The firm endeavors to reconcile the gap between Japan's financial institutions, regulators, and the Bitcoin community using Bitcoin Magazine Japan.
Metaplanet's shares experienced a decline on the Tokyo Stock Exchange before the lunch break. They reached a high of $17.60 (2,715 yen) before plummeting by 3% to $17.11 (2,630 yen) before the break, as indicated by Google Finance.
Metaplanet's stock has increased by nearly 1,550% this year since it transitioned to purchasing Bitcoin in early April. It has since acquired just over 1,142 BTC, resulting in a total expenditure of approximately $74 million (11.372 billion yen). The investment is valued at $111.5 million, with Bitcoin trading at roughly $97,600.
Bitcoin Magazine, which commenced publication in 2012, is one of the earliest crypto media publications. Vitalik Buterin, a co-founder of Ethereum, served as its primary author during its initial stages.
According to Similarweb data, Bitcoin Magazine received 1.27 million total visits in the three months leading up to October, significantly lower than its competitors, Decrypt and The Block, which received 3.8 million and 3.2 million, respectively. Additionally, it is considerably lower than other websites, such as CoinDesk, which received over 12 million visits.
Visits to the websites of Bitcoin Magazine and other crypto media publications daily from August to October. Source: Similarweb
Bitcoin Magazine Japan will enter a competitive local market in which Western outlets, such as CoinDesk and Cointelegraph, operate Japanese language versions in addition to indigenous outlets like CoinPost.
The specifics of the agreement between BTC Inc. and Metaplanet were not disclosed. Metaplanet and BTC Inc. did not promptly address requests for comment.
