Metaplanet Acquires 107 BTC as Crypto Market Enters Q4 with Optimism

Metaplanet Acquires 107 BTC as Crypto Market Enters Q4 with Optimism

Japanese investment firm Metaplanet announced the purchase of an additional 107.9 Bitcoin, valued at approximately 1 billion yen ($7 million), as the cryptocurrency market begins the fourth quarter on a positive note. This brings the firm’s total Bitcoin holdings to 506.7 BTC, amounting to around 4.75 billion yen ($33.2 million).

Often referred to as “Asia’s MicroStrategy,” Metaplanet has intensified its Bitcoin acquisitions as part of a strategic plan to bolster its treasury reserves. This approach mirrors that of MicroStrategy, the U.S. company known for its significant investments in Bitcoin.

Metaplanet's decision to invest in Bitcoin comes as a hedge against inflation and currency instability, particularly in the wake of economic turbulence following the Covid-19 pandemic. The firm views Bitcoin as a protective asset amid fluctuating traditional financial markets.

In a bid to enhance its Bitcoin trading and management capabilities, Metaplanet recently partnered with SBI Holdings’ crypto division. This collaboration aims to provide new tools and strategies for the firm’s expanding treasury.

Additionally, Metaplanet has plans to tokenize its shares via the Bitcoin layer-2 network, Liquid. This move is intended to broaden its investor base, allowing U.S. and global investors to participate despite the company being listed on the Tokyo Stock Exchange, which can pose regulatory challenges for direct investment.