Japanese Firm Metaplanet Ventures into Bitcoin Territory, Aiming to Mimic MicroStrategy’s Success

Metaplanet Inc., a prominent player listed on the Tokyo Stock Exchange, has embarked on a bold venture by integrating Bitcoin into its treasury assets, initiating a substantial investment of JPY 1 billion (approximately $6.56 million). This strategic maneuver positions Metaplanet on the trajectory to potentially emulate the success of MicroStrategy, the renowned American corporation recognized for its significant BTC reserves.

The Bitcoin Initiative Unveiled

Metaplanet’s declaration on X (formerly known as Twitter) provided insights into its strategic decision, underlining the fusion of financial acumen and innovative foresight. Supported by a distinguished consortium comprising Sora Ventures, UTXO Management, along with notable figures such as Mark Yusko (Founder, CEO & CIO of Morgan Creek Capital) and Jack Liu (a founding member of Ordswap), the move signifies robust backing from both the venture capital and cryptocurrency communities.

In a statement from the announcement, Metaplanet expressed its enthusiasm, stating, “Today, we’re thrilled to announce a groundbreaking shift in our financial strategy, as we embrace Bitcoin as the core treasury asset of the Company going forward by committing an initial JPY 1 billion. Our transition to Bitcoin is a significant milestone in our mission to lead in the digital finance era and positions Metaplanet as a pioneer in the adoption of digital assets in Japan. Stay tuned!”

Today, we’re thrilled to announce a groundbreaking shift in our financial strategy, as we embrace Bitcoin as the core treasury asset of the Company going forward by committing an initial JPY 1 billion. This strategic pivot is not just about embracing digital assets but also about… pic.twitter.com/OASxj9IBPG

— Metaplanet Inc. (@Metaplanet_JP) April 8, 2024

Simon Gerovich, the CEO of Metaplanet Inc., conveyed his excitement, remarking via X, “I am thrilled to lead Metaplanet as we take a bold step into the future, committing an initial JPY 1 billion to Bitcoin as our core treasury asset going forward. Thanks to the support from our partners and investors. I’m proud of our pioneering spirit and excited for what lies ahead.”

Jason Fang of Sora Ventures, shedding light on the development, emphasized the strategic benefits for Japanese investors. Fang’s involvement on Metaplanet’s board indicates a deeper collaboration aimed at facilitating BTC exposure for Tokyo Stock Exchange account holders, while mitigating regulatory risks. Fang commented, “Excited to announce that Sora Ventures is working with Metaplanet […] The product will enable Japanese to gain exposure to bitcoin without paying an unrealized gains tax that could go as high as 55%. It will also enable anyone with an account to Tokyo Stock Exchange to gain exposure to bitcoin without any regulatory risks.”

Despite operating across diverse sectors, including hotel development, Web3 consulting, and real estate investments, with a market cap of 4.27 billion JPY ($28 million), considerably smaller than that of MicroStrategy, the world’s leading corporate holder of BTC, Metaplanet’s stock witnessed a remarkable surge of 90% following the announcement, showcasing the market’s positive reception to the company’s strategic shift.