{"id":88825,"date":"2024-08-06T13:27:20","date_gmt":"2024-08-06T17:27:20","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=88825"},"modified":"2024-08-06T13:28:01","modified_gmt":"2024-08-06T17:28:01","slug":"japanese-firm-metaplanet-invest-58-76m-in-btc","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/japanese-firm-metaplanet-invest-58-76m-in-btc\/","title":{"rendered":"Japanese Firm Metaplanet Set to Invest $58.76M in Bitcoin"},"content":{"rendered":"\n

Metaplanet Inc<\/a>. invests 8.5 billion yen in Bitcoin, increasing its crypto treasury amid\u00a0Japan's market instability.<\/p>\n\n\n\n

\"Japanese<\/figure>\n\n\n\n

During the company's Board of Directors meeting, Metaplanet Inc. announced a gratis allotment of its 11th series of stock acquisition rights to all common shareholders.<\/p>\n\n\n\n

The decision was taken to raise about 10 billion yen ($69.13 million), with 8.5 billion yen ($58.76 million) put aside for Bitcoin investment\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

All common shareholders will receive stock acquisition rights on September 5, with the allotment becoming effective on September 6.<\/p>\n\n\n\n

$58.76 million in Bitcoin investment<\/h2>\n\n\n\n

The firm's decision to invest most of the funds raised in BTC is based on asset appreciation over time and the ability to hedge against currency depreciation.<\/p>\n\n\n\n

The Bank of Japan <\/a>raised rates on short-term government bonds on July 31, resulting in the Japanese stock market experiencing its most severe one-day drop since 1987.<\/p>\n\n\n\n

The transition from 0% to 0.25% initiated a series of events that resulted in a significant sell-off of cryptocurrencies as BTC and Ether saw price drops of around 18 and 26%, respectively.<\/p>\n\n\n\n

Metaplanet's Crypto Expansion<\/h2>\n\n\n\n

On July 8, the publicly listed investment and consulting firm acquired $2.5 million BTC and 400 million yen, resulting in a total of 42.5 BTC.<\/p>\n\n\n\n

Following the acquisition, Metaplanet held a total of 203.7 BTC, which was acquired at an average price of around 10 million yen, or $62,000 per BTC.<\/p>\n\n\n\n

The company announced its entry into BTC in April, acquiring its first holdings for $6.5 million and adopting the asset as a treasury asset.<\/p>\n\n\n\n

Metaplanet execs “zombie companies” pre-BTC<\/h2>\n\n\n\n

At the Bitcoin Conference in Nashville on July 25, executives from Metaplanet and Semler Scientific expressed their admiration for MicroStrategy's<\/a> BTC playbook.<\/p>\n\n\n\n

Metaplanet's CEO, Simon Gerovich, disclosed that his company showed characteristics typically affiliated with zombie companies before its strategic transition to Bitcoin.<\/p>\n\n\n\n

Gerovich stated that the firm eventually “realized that Bitcoin is the apex monetary asset” and would be a “great” addition to the Japanese investment company's treasury.<\/p>\n","protected":false},"excerpt":{"rendered":"

Metaplanet Inc. invests 8.5 billion yen in Bitcoin, increasing its crypto treasury amid\u00a0Japan’s market instability. During the company’s Board of Directors meeting, Metaplanet Inc. announced a gratis allotment of its 11th series of stock acquisition rights to all common shareholders. The decision was taken to raise about 10 billion yen ($69.13 million), with 8.5 billion yen […]<\/p>\n","protected":false},"author":56,"featured_media":88846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,21],"tags":[12824,152,10784,19076,539],"class_list":["post-88825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-news","tag-bank-of-japan","tag-bitcoin","tag-cryptocurrency-investment","tag-metaplanet-2","tag-microstrategy"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/Japanese-Firm-Metaplanet-Set-to-Invest-58.76M-in-Bitcoin.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=88825"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88825\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/88846"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=88825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=88825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=88825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}