Asia’s first Microstrategy, MetaPlanet adding BTC to its treasury

Metaplanet, a publicly traded investment company in Japan that focuses on Web3 and the metaverse, announced that it has received 1 billion yen ($6.5 million) in Bitcoin. After the development, the company’s value on the Japanese stock exchange increased by 90%.

Asia’s first Microstrategy, MetaPlanet adding BTC to its treasury

In Japan, where there have been positive developments in the field of cryptocurrency recently, a company started to follow in the footsteps of MicroStrategy and bought Bitcoin. Metaplanet, which has activities in Metaverse and Web3, bought $6.5 million in Bitcoin.

“Today we are pleased to announce that we have made a major change in our financial strategy and we are pleased to announce that we have chosen Bitcoin as our main asset,” the company said in a statement. Among the companies and individual investors who supported and participated in the purchase are Sora Ventures, UTXO Management and Mark Yusko, who are well known in the cryptocurrency world.

Jason Fang, founder of Sora Ventures, described Metaplanet as “Asia’s first MicroStrategy” and said, “A development that will increase Japanese citizens’ investments in Bitcoin.”

Michael Saylor, founder of MicroStrategy, said in many previous statements that companies and countries should also buy Bitcoin as a protection strategy. Saylor also said that Elon Musk convinced him to buy Bitcoin.

After the announcement of the Japanese company, the increase of more than 90% in the company’s stocks also attracted attention.

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