Metaplanet, an investment firm listed on the Tokyo Stock Exchange, has announced the acquisition of an additional 19.87 Bitcoin. This move aligns with Michael Saylor’s renowned MicroStrategy playbook of accumulating substantial Bitcoin holdings.
Has MicroStrategy Given Metaplanet Its Playbook?
In a post, Metaplanet stated that it has purchased the additional BTC to augment its growing digital asset reserves. This move reaffirms the Japanese company’s commitment to BTC as a strategic asset in its investment portfolio.
Notably, the purchase represents a significant step in adopting a BTC-focused investment strategy, reminiscent of MicroStrategy’s aggressive accumulation. MicroStrategy’s holdings have positioned it as a leader in the corporate adoption of Bitcoin. The firm’s total Bitcoin reserves surpass those of many other companies and individuals.
MicroStrategy now owns 214,400 Bitcoin, outranking the United States, the largest country holder, with 207,189 BTC. The business intelligence firm has strategically acquired Bitcoin over the years just like Metaplanet Inc. is now doing in Japan.
Metaplanet’s total Bitcoin holdings as of May 10 tops 117.72 BTC, acquired for a total of ¥1.2 billion ($7.7 million), with an average price of ¥10,193,536 per coin. Although this pales in comparison to MicroStrategy, it demonstrates the firm’s consistent commitment to accumulating the coin despite market fluctuations.
*Metaplanet purchases additional 19.87 $BTC* pic.twitter.com/RripKe9mEU
— Metaplanet Inc. (@Metaplanet_JP) May 10, 2024
Implications for the Broader Bitcoin Market
Metaplanet Inc.’s continued investment in BTC may inspire other Japanese firms to consider similar strategies. This may well contribute to the broader corporate adoption of digital assets in Japan and beyond.
Metaplanet’s alignment with the MicroStrategy playbook would require the firm to stay consistent and aggressive in the accumulation of digital assets. According to MicroStrategy’s financial report, it purchased 25,250 bitcoins during the first four months of 2024. The business intelligence and software firm made a total Bitcoin 122 BTC purchase worth $7.8 million in April alone.
Market watchers in the Tokyo Stock Exchange are keen on keeping an eye on the acquisition strategy of Metaplanet. Time will reveal how consistent the firm is in its belief in Bitcoin’s long-term value proposition.
