Metaplanet a Japanese consulting firm to invest 62m in Bitcoin
Metaplanet Inc., a public consulting firm based in Tokyo, has allocated more than $6.2 million to purchase Bitcoin for long-term holding. The investment firm recently raised ¥1 billion yen by issuing the second series of ordinary bonds specifically for this purpose. While the company intends to hold Bitcoin for the long term, it hasn’t ruled out the possibility of using it for other operations as well. The bonds, which will be offered through EVO FUND, carry an annual interest rate of 0.5% and will mature on June 25, 2025. Although the bonds have no collateral, Metaplanet has established a first-priority mortgage on the land and building of Hotel Royal Oak Gotanda, owned by its subsidiary Wen Tokyo Inc., to secure all monetary claims. Following this news, Metaplanet’s shares experienced a significant surge of over 9% on the Tokyo Stock Exchange. This recent Bitcoin purchase adds to the firm’s existing balance sheet, which already holds over 141 BTC. Metaplanet’s decision to invest in Bitcoin reflects its commitment to using the cryptocurrency as a strategic treasury reserve asset. The firm cites Japan’s sustained economic pressures, including high government debt levels, prolonged periods of negative real interest rates, and a weak yen, as reasons for its move into Bitcoin. Metaplanet is not alone in its interest in cryptocurrencies, as a survey conducted by Nomura and Laser Digital revealed that more than 500 investment managers in Japan are considering investing in crypto. Additionally, around half of the respondents expressed openness to using stablecoins for settlements and daily transactions.
