{"id":16860,"date":"2024-09-10T19:27:53","date_gmt":"2024-09-10T16:27:53","guid":{"rendered":"https:\/\/forklog.com\/en\/japanese-firm-metaplanets-bitcoin-reserves-near-400-btc\/"},"modified":"2024-09-10T19:27:53","modified_gmt":"2024-09-10T16:27:53","slug":"japanese-firm-metaplanets-bitcoin-reserves-near-400-btc","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/japanese-firm-metaplanets-bitcoin-reserves-near-400-btc\/","title":{"rendered":"Japanese Firm Metaplanet&#8217;s Bitcoin Reserves Near 400 BTC"},"content":{"rendered":"<p>The Japanese investment firm Metaplanet Inc. <a href=\"https:\/\/metaplanet.jp\/wp-content\/uploads\/2024\/09\/20240910-Notice-of-Additional-Purchase-of-Bitcoins.pdf\">announced<\/a> the acquisition of an additional 38.464 BTC, valued at approximately 300 million yen ($2 million).<\/p>\n<p>The average price of the latest cryptocurrency purchase was around 7.8 million yen ($54,786).<\/p>\n<p>In total, the firm has spent 3.75 billion yen ($26 million) on 398.8 BTC. The average purchase price of the coins over time is approximately $66,000.<\/p>\n<p>The company&#8217;s new strategy <a href=\"https:\/\/forklog.com\/en\/news\/metaplanet-shares-soar-90-following-bitcoin-reserve-acquisition\">began in April<\/a>. Following the &#8220;first step towards converting the treasury into the first cryptocurrency,&#8221; the public company&#8217;s shares rose by nearly 90%.<\/p>\n<p>By mid-June, the firm&#8217;s bitcoin balance had already <a href=\"https:\/\/forklog.com\/en\/news\/metaplanet-of-japan-increases-bitcoin-reserves-to-141-btc\">reached 141 BTC<\/a>. In the same month, Metaplanet <a href=\"https:\/\/forklog.com\/en\/news\/japanese-firm-metaplanet-to-raise-6-3-million-for-bitcoin-acquisition\">announced<\/a> plans to issue unsecured bonds worth 1 billion yen ($6.26 million) to acquire digital gold.<\/p>\n<p>In early August, the company <a href=\"https:\/\/forklog.com\/en\/news\/japanese-firm-metaplanet-allocates-59-million-for-bitcoin-acquisition\">allocated nearly $59 million<\/a> for bitcoin purchases.<\/p>\n<p>On September 9, Metaplanet <a href=\"https:\/\/metaplanet.jp\/wp-content\/uploads\/2024\/09\/Notice-of-Exercise-of-the-11th-Series-of-Stock-Acquisition-Rights-by-the-Management.pdf\">announced<\/a> a decision by management to exercise rights to acquire shares worth 299.7 million yen.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cThe funds obtained will be used to purchase bitcoin,\u201d company representatives clarified.<\/cite><\/p><\/blockquote>\n<p>Last week, the company also <a href=\"https:\/\/metaplanet.jp\/wp-content\/uploads\/2024\/09\/Announcement-of-Partnership-Between-METAPLANET-and-SBI-VC-Trade-for-Bitcoin.pdf\">announced<\/a> a partnership with SBI VC Trade, the cryptocurrency division of the SBI Group conglomerate. As part of the collaboration, the firm will be provided with access to corporate-level custodial services focused on tax management efficiency, as well as the ability to use digital gold &#8220;as collateral for financial operations.&#8221;<\/p>\n<p>Among public companies holding the first cryptocurrency, MicroStrategy has long been the leader, with 226,500 BTC valued at approximately $12.8 billion, according to <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a>.<\/p>\n<p>In August, Metaplanet CEO Simon Gerovich <a href=\"https:\/\/forklog.com\/en\/news\/metaplanet-ceo-advocates-bitcoin-accumulation-as-holdings-surpass-300-btc\">urged<\/a> to &#8220;always accumulate bitcoin.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Japanese investment firm Metaplanet Inc. announced the acquisition of an additional 38.464 BTC, valued at approximately 300 million yen ($2 million). The average price of the latest cryptocurrency purchase was around 7.8 million yen ($54,786). In total, the firm has spent 3.75 billion yen ($26 million) on 398.8 BTC. The average purchase price of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16859,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1538,1156,135],"class_list":["post-16860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-purchase","tag-institutional-investors-and-whales","tag-japan"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16860"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16859"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}