In recent years, the American company MicroStrategy has adopted an economic policy aimed at building up the largest possible strategic reserve of Bitcoins (BTC). This strategy was imitated a few months ago by the Japanese company Metaplanet, which intends to follow the same path as MicroStrategy.
Metaplanet continues to accumulate Bitcoins (BTC)
Metaplanet, a Japanese company listed on the Tokyo Stock Exchange, announced this Monday that it was going to issue 1.75 billion yen, or $11.3 million, of bonds for 1 year at an interest rate of 0.36%.
The funds raised will be used to increase the reserve of Bitcoins (BTC) that the company has been seeking to build for more than 7 months. In fact, Metaplanet started buying BTC from April with the aim of to protect its cash flow from the volatility of the yen and existing debt problems in Japan.
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At the beginning of November, the company announced that it had purchased 156.76 BTC at a cost of $66,950for a total amount more than 10 million dollars at the time of the transaction.
In the meantime, with the announcement of Donald Trump's victory in the American presidential electionsthe cryptocurrency market has entered a euphoric state and the price of Bitcoin soared.
So, at present, the price of BTC is around $90,000. With its 1,018.17 BTC, Metaplanet can boast of having constituted a $91 million Bitcoin stash, purchased at an average price of $62,000 each.
If this reservation seems substantial, it remains less compared to that of Digital Marathon who owns over 25,000 BTC or that of MicroStrategy who owns 252,220 Bitcoins whose current value is more than 20 billion dollars.
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MicroStrategy's economic strategy inspires the Japanese company which wishes to follow in its footsteps
The American company founded by Michael Saylor adopted a strategy in 2020 aimed at capitalizing on the growth opportunities offered by Bitcoin.
A strategy which for the moment is proving more than paid since by buying your BTC at an average price of $42,692the firm managed to double its initial investment thanks to the rise in the price of cryptocurrency in recent years.
Thanks to this financial strategy, the group's action has even regained colorreaching levels it had not seen since the bursting of the dot-com bubble in 2000. Currently, one share of MicroStrategy is worth $340.65, which constitutes its ATH.
Metaplanet hears well adopt this same economic strategy in the long term, as Simon Gerovich, its CEO, made clear, who claimed on more BTC purchases are coming ».
More #bitcoin purchases incoming https://t.co/3N4Z364Pkt
— Simon Gerovich (@gerovich) November 18, 2024
👉 Also in the news – Goldman Sachs now owns over $718 million in Bitcoin (BTC) ETF
Earlier this year, the Japanese company specializing in finance, real estate and trading, obtained 11 billion yen, or nearly $75 million, via a share issue. She then announced that a large part of this sum would be used to acquire more BTC.
Since April, Metaplanet's share price is clearly on the rise, gaining almost 400%. The stock is trading at just under 2,000 yen at present, either a little more than 12 euros.
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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