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Metaplanet marries Bitcoin as a store of value asset
The post Metaplanet marries Bitcoin as a store of value asset appeared on BitcoinEthereumNews.com. Metaplanet, a famous publicly traded investment company in Japan with a market capitalization of 3.7 billion dollars, revealed this morning that it has bought Bitcoin as a form of value reserve following market turbulence in the yen market. By doing so, the Japanese giant, scared of an imminent fiscal crisis, followed in the footsteps of the American company Microstrategy, adding 117.7 Bitcoin to its balance sheet. the company has also drafted and published a whitepaper explaining the reasons behind this move. All the details below. Metaplanet, a publicly traded company in Japan, adopts Bitcoin as a store of value In Japan, the adoption of the Bitcoin standard continues after Metaplanet Inc., a major publicly traded investment company with a market capitalization of 3.7 billion dollars, recently revealed that it has purchased cryptographic coins worth 7.2 million dollars. The aim of Metaplanet is to protect its financial and tax situation with a reserve asset like Bitcoin from potential market turbulence related to the devaluation of the yen. The Japanese company itself revealed it in a press release in which it explained its own position and investment strategy, releasing a sort of “whitepaper”. NEW: ???????? Japanese public company Metaplanet released a white paper on their #Bitcoin corporate treasury strategy. Game theory has started playing out ???? pic.twitter.com/yb0oepHXhR — Bitcoin Magazine (@BitcoinMagazine) May 13, 2024 According to the data from Bitcointreasuries.net, Metaplanet started accumulating Bitcoin in April, reaching a total of 117.7 BTC as of May 10, 2024. In this way, the investment giant in Japan has reached the 31st position in the ranking of listed companies with the most Bitcoin on their balance sheet worldwide, behind The Brooker Group and Banxa Holdings, with 122.3 and 126 BTC respectively. At the top of the ranking we obviously find Microstrategy with 214,278 BTC for…
The post Metaplanet marries Bitcoin as a store of value asset appeared on BitcoinEthereumNews.com.
Metaplanet, a famous publicly traded investment company in Japan with a market capitalization of 3.7 billion dollars, revealed this morning that it has bought Bitcoin as a form of value reserve following market turbulence in the yen market. By doing so, the Japanese giant, scared of an imminent fiscal crisis, followed in the footsteps of the American company Microstrategy, adding 117.7 Bitcoin to its balance sheet. the company has also drafted and published a whitepaper explaining the reasons behind this move. All the details below. Metaplanet, a publicly traded company in Japan, adopts Bitcoin as a store of value In Japan, the adoption of the Bitcoin standard continues after Metaplanet Inc., a major publicly traded investment company with a market capitalization of 3.7 billion dollars, recently revealed that it has purchased cryptographic coins worth 7.2 million dollars. The aim of Metaplanet is to protect its financial and tax situation with a reserve asset like Bitcoin from potential market turbulence related to the devaluation of the yen. The Japanese company itself revealed it in a press release in which it explained its own position and investment strategy, releasing a sort of “whitepaper”. NEW: ???????? Japanese public company Metaplanet released a white paper on their #Bitcoin corporate treasury strategy. Game theory has started playing out ???? pic.twitter.com/yb0oepHXhR — Bitcoin Magazine (@BitcoinMagazine) May 13, 2024 According to the data from Bitcointreasuries.net, Metaplanet started accumulating Bitcoin in April, reaching a total of 117.7 BTC as of May 10, 2024. In this way, the investment giant in Japan has reached the 31st position in the ranking of listed companies with the most Bitcoin on their balance sheet worldwide, behind The Brooker Group and Banxa Holdings, with 122.3 and 126 BTC respectively. At the top of the ranking we obviously find Microstrategy with 214,278 BTC for…
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