{"id":90397,"date":"2024-08-21T01:25:36","date_gmt":"2024-08-21T05:25:36","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=90397"},"modified":"2024-08-21T01:25:41","modified_gmt":"2024-08-21T05:25:41","slug":"metaplanet-increases-bitcoin-holdings","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/metaplanet-increases-bitcoin-holdings\/","title":{"rendered":"Metaplanet Increases Bitcoin Holdings"},"content":{"rendered":"\n

Metaplanet purchased 57.273 BTC<\/a> for $3.4 million, bringing its Bitcoin holdings to around $22 million.<\/p>\n\n\n\n

\"Metaplanet
Metaplanet Increases Bitcoin Holdings<\/figcaption><\/figure>\n\n\n\n

Metaplanet, a Japanese investment adviser, has acquired an additional 57.273 BTC for $3.4 million. The company's Bitcoin holdings were approximately $22 million as of August 20.<\/p>\n\n\n\n

A loan with an annual interest rate of 0.1% was arranged by the company earlier this month to acquire $6.8 million in Bitcoin. Metaplanet initially emulated MicroStrategy<\/a>‘s strategy in May by accepting the largest cryptocurrency as its reserve asset.<\/p>\n\n\n\n

Metaplanet was a Web3 consulting firm prior to transitioning to Bitcoin evangelism in a manner reminiscent of MicroStrategy. The organisation had previously been engaged in the operation of budget lodgings.<\/p>\n\n\n\n

The Bitcoin pivot was intended to protect the publicly traded company from the weak Japanese yen.<\/p>\n\n\n\n

The Japanese currency began to experience a significant decline in value against the US dollar earlier this year as a result of the US Federal Reserve's decision to refrain from reducing interest rates.<\/p>\n\n\n\n

The lowest level of the yen against the US dollar since the early 1990s was achieved in April. At that time, the Japanese economy was in a state of disarray following the collapse of the real estate mania. The unfavourable macroeconomic environment was the cause of the yen's swift depreciation.<\/p>\n\n\n\n

Proponents of Bitcoin have long advocated for it as a safeguard against imprudent monetary policies. Initially, MicroStrategy allocated a portion of its financial reserves\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> to Bitcoin as a hedge against inflation. It subsequently became the largest corporate holder of the most prominent cryptocurrency.<\/p>\n\n\n\n

The company currently possesses approximately $13.8 billion in Bitcoin. Bitcoin's corporate adoption has been largely nonexistent, despite MicroStrategy's success.<\/p>\n","protected":false},"excerpt":{"rendered":"

Metaplanet purchased 57.273 BTC for $3.4 million, bringing its Bitcoin holdings to around $22 million. Metaplanet, a Japanese investment adviser, has acquired an additional 57.273 BTC for $3.4 million. The company’s Bitcoin holdings were approximately $22 million as of August 20. A loan with an annual interest rate of 0.1% was arranged by the company […]<\/p>\n","protected":false},"author":36,"featured_media":90398,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[19123,19076],"class_list":["post-90397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-holdings","tag-metaplanet-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/MicroStrategy.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90397","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\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=90397"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/90398"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=90397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=90397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=90397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}