Upcoming micro-strategy? This public company in Japan is purchasing bitcoin

Japanese company Metaplanet has announced it will buy 1 billion yen (approximately $6.5 million) worth of Bitcoin as part of its financial strategy, a move that mimics MicroStrategy’s high-profile Bitcoin accumulation.

Metaplanet, a diversified public company listed on the Tokyo Stock Exchange, has announced plans to purchase Bitcoin at X. The company cited a hedge against currency depreciation and inflation as its motivation.

The announcement said the purchase was an “initial commitment” and part of a broader exploration of Bitcoin’s potential. It is supported by partners including legendary hedge fund manager Mark Yusko, UTXO Management, and Sora Ventures.

Metaplanet aims to leverage Bitcoin’s upside potential while mitigating risk by launching a Bitcoin treasury reserve similar to MicroStrategy. MicroStrategy is a pioneer in enterprise Bitcoin treasury strategies and has purchased over $6 billion worth of his BTC since 2020.

Metaplanet stock rose 89.47% on Tuesday following the Bitcoin announcement.

Jason Fang of Sora Ventures called Metaplanet “Asia’s first MicroStrategy” due to its focus on Bitcoin.

The move also provides Japanese investors with indirect Bitcoin exposure without high taxes on unrealized gains, which can reach as high as 55% in Japan. Metaplanet’s Bitcoin funds are held in a tax-deferred structure that is only accessible to the company.

By purchasing Bitcoin, Metaplanet joins a growing list of publicly traded companies using Bitcoin to maximize shareholder value. As MicroStrategy proves the effectiveness of its models, further adoption within organizations is likely.

For Metaplanet, Bitcoin offers opportunities beyond investment returns, including accelerating our Bitcoin efforts.

This announcement is a positive sign for Bitcoin’s traction in Asia. Metaplanet offers investors a regulated way to gain their BTC exposure. If successful, other listed companies in the region are expected to follow this pattern.