Metaplanet, a publicly-listed Japanese company providing hotel-related and other services, has announced the purchase of ¥1 billion (approximately $6.25 million) worth of Bitcoin.
NEW: 🇯🇵 Japanese Public Company Metaplanet just bought $6.25 million worth of #Bitcoin
The game theory is now in full swing🚀 pic.twitter.com/EJ19mcO9QF
— Bitcoin Magazine (@BitcoinMagazine) April 26, 2024
The Tokyo Stock Exchange listed company declared earlier in the month its intention to accept Bitcoin as a reserve currency. X. Metaplanet stated its plan to buy ¥1 billion in Bitcoin as an initial commitment.
Recently, the company has made an announcement about X revealed that they have fulfilled their commitment, purchasing ¥1 billion worth of Bitcoin.
This strategy is very similar to that of MicroStrategy. A U.S. based company has been building up Bitcoins in its account since 2020. MicroStrategy’s Bitcoin’s share price has risen dramatically since its purchase.
Metaplanet stock prices also increased following the announcement made earlier in this month. significant increaseInvestors are confident in the decision of the company to invest in Bitcoin.
Jason, of Sora Ventures called Metaplanet “Asia’s first MicroStrategy,” This move could have a significant impact on the Asian markets.
Metaplanet’s Bitcoin Investment offers Japanese investors an opportunity to get exposure to Bitcoin, without paying a 55% tax on gains that are not realized.
Metaplanet allows anyone who has a Tokyo Stock Exchange account to invest indirectly in Bitcoin without the risks of direct purchase.
The development in Asia is seen as positive for Bitcoin, and the market it has created. It shows that Bitcoin’s acceptance and use by conventional financial institutions are growing. financial Institutions and publically listed companies
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Source: bitcoinmagazine.com