Metaplanet, a decades-old Japanese public company offering hospitality and technology-related services, recently announced a major strategic pivot: adopting bitcoin as a core corporate treasury asset.
Last month, Metaplanet revealed that it acquired more than $6 million worth of bitcoin, marking the company's foray into digital assets. This reflects MicroStrategy's pioneering move to allocate part of its reserves to bitcoin starting in 2020.
Following the news, Metaplanet has x.com/Metaplanet_JP/status/1787717171629408637″>recently hired leading industry analyst twitter.com/DylanLeClair_”>Dylan Le Clair as bitcoin Chief Strategy Officer to accelerate his new focus on bitcoin. LeClair is head of market research at bitcoin Magazine and UTXO Management, and is respected for his expertise in on-chain analysis and macroeconomics.
At Metaplanet, LeClair will design corporate bitcoin strategy, using public markets tools to accumulate btc for the balance sheet. This aligns with Metaplanet's vision of promoting bitcoin's role in its balance sheet.
LeClair commented: “I am very excited to join Metaplenat to implement a corporate bitcoin standard. By leveraging various corporate financial strategies, we aim to further establish a blueprint for corporate bitcoin adoption in Japan and beyond.”
He added: “Metaplanet seeks to highlight the strategic benefits of adopting bitcoin, particularly in regions where political currencies face greater structural weaknesses.”
Metaplanet is positioning itself as an “Asia MicroStrategy,” mimicking the software company’s approach to strengthening its balance sheet with bitcoin.
MicroStrategy has over $10 billion in btc reserves, a strategy that has significantly increased its enterprise value.
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Jason Fang of Sora Ventures called Metaplanet “Asia's first MicroStrategy.” The move also allows Japanese investors to gain exposure to bitcoin without paying capital gains taxes, which can reach 55% in the country.
Metaplanet offers a path for public market investors and institutions to invest in bitcoin. This is an important development as corporate adoption of bitcoin becomes more widespread.
If Metaplanet follows MicroStrategy's playbook, significantly increasing btc reserves over time, it could provide significant upside for investors and validation for bitcoin.
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