Metaplanet, a company listed on the Tokyo Stock Exchange, announced in a statement that it has adopted Bitcoin as its core treasury asset.
At this point, Japanese publicly traded company Metaplanet said it had allocated ¥1 billion (about $6.56 million) to Bitcoin as part of a significant shift in its financial strategy.
Metaplanet added BTC to its balance sheet along with crypto investors like Morgan Creek Capital's Mark Yusko and Sora Ventures.
The company stated the following in its statement:
“The company's decision to include Bitcoin in its treasury holdings stems from a well-rounded understanding of Bitcoin's potential as a hedge against inflation, a tool for macroeconomic resilience, and a basis for long-term capital appreciation.”
After Metaplanet's BTC move, its shares increased by 90%.
It was also stated that this BTC move by Metaplanet would allow the Japanese to be exposed to Bitcoin without paying the high unrealized gains tax.
*This is not investment advice.