Metaplanet, a Japanese consulting firm based in Tokyo, has made a significant investment in Bitcoin, allocating over $6.2 million for long-term holding. The company, known for its expertise in hotel and crypto consulting, raised ¥1 billion yen through the issuance of the second series of ordinary bonds to fund this investment, according to a statement released on Jun. 24.
While Metaplanet has stated that its primary goal is to hold Bitcoin for the long term, it has not ruled out the possibility of using the cryptocurrency for operational purposes in the future. The bonds, offered through EVO FUND, come with an annual interest rate of 0.5% and are set to mature on Jun. 25, 2025. Despite the lack of collateral, the company has secured all monetary claims with a first-priority mortgage on the land and building of Hotel Royal Oak Gotanda, owned by its subsidiary, Wen Tokyo Inc.
Following this news, Metaplanet’s shares experienced a significant increase of over 9% on the Tokyo Stock Exchange, according to data from Google Finance. This move indicates the market’s positive response to the firm’s investment strategy.
This recent investment in Bitcoin is not the first for Metaplanet, as the company already holds 141 BTC on its balance sheet. The decision to increase its exposure to Bitcoin reaffirms Metaplanet’s belief in the cryptocurrency as a strategic treasury reserve asset. The firm’s decision to purchase Bitcoin was influenced by economic pressures in Japan, including high government debt levels, prolonged periods of negative real interest rates, and a weakening yen.
Metaplanet’s move towards cryptocurrency investment reflects a broader trend in Japan, where more than 500 investment managers are reportedly considering investing in crypto. A survey conducted by Nomura in collaboration with Laser Digital revealed that half of the respondents are open to using stablecoins for settlements and daily transactions, highlighting the growing acceptance of digital assets in the country.
Overall, Metaplanet’s investment in Bitcoin signals its confidence in the long-term potential of the cryptocurrency market. As more companies and investors explore opportunities in the digital asset space, the landscape of traditional finance continues to evolve in response to changing economic conditions and market dynamics.
