{"id":345634,"date":"2024-07-22T15:50:16","date_gmt":"2024-07-22T14:50:16","guid":{"rendered":"https:\/\/coinfomania.com\/?p=345634"},"modified":"2024-07-22T15:50:23","modified_gmt":"2024-07-22T14:50:23","slug":"the-microstrategy-of-japan-metaplanet-just-bought-more-bitcoin-and-its-stock-price-went-up-19","status":"publish","type":"post","link":"https:\/\/coinfomania.com\/the-microstrategy-of-japan-metaplanet-just-bought-more-bitcoin-and-its-stock-price-went-up-19\/","title":{"rendered":"The \u2018MicroStrategy of Japan\u2019\u2014Metaplanet, Just Bought More Bitcoin\u2014And Its Stock Price Went Up 19%"},"content":{"rendered":"\n<p>Originally known as Red Planet Japan, Metaplanet, a Japanese investment firm that started as a budget hotel operator, has recently made headlines by adding Bitcoin to its corporate treasury.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Japanese investment and consulting firm <a href=\"https:\/\/twitter.com\/hashtag\/Metaplanet?src=hash&amp;ref_src=twsrc%5Etfw\">#Metaplanet<\/a> has purchased an additional 20.38 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> worth $1.2 million.<br><br>This brings their total holdings to 245.99 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>, valued at $16.5 million. <br><br>Their share price surged from $0.12 to $1.10, an 810% increase since April 8. <a href=\"https:\/\/t.co\/ThzMZi0mI9\">pic.twitter.com\/ThzMZi0mI9<\/a><\/p>&mdash; Satoshi Club (@esatoshiclub) <a href=\"https:\/\/twitter.com\/esatoshiclub\/status\/1815333466004943104?ref_src=twsrc%5Etfw\">July 22, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>In a <a href=\"https:\/\/contents.xj-storage.jp\/xcontents\/33500\/7806eef2\/8074\/4020\/b661\/27448cbe2749\/140120240719551721.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">press release<\/a> on Monday, the investment firm announced that they&#8217;ve added another 20.381 Bitcoin \u2014 at an average price of 9,813,061 yen per BTC \u2014 to its corporate treasury, hitting its 1 billion Japanese yen investment target. This follows up on <a href=\"https:\/\/contents.xj-storage.jp\/xcontents\/33500\/be5f5cac\/3cbe\/445b\/9890\/15ba01b5994d\/140120240620533309.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">its late June announcement<\/a> to <a href=\"https:\/\/coinfomania.com\/metaplanet-to-add-another-1-billion-yen-worth-of-bitcoin-to-portfolio\/\">acquire more BTC totaling 1 billion yen<\/a> (worth a little less than $6.4 million) at the time of writing.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXeg8L5d8DLCsSXQ_tCoCu0E5-fwYODIkMA38O4Wps0JmVdUIAq4Z6oCDXpLvs9oXtbHEj0Aka9NjMpq5V8lHweMePNtUyzJGsKwlJyiClLk_9gCC97D9S0rb-OfrkNTvqywz6Ei1DmRtYrGRHpiuUj8agr8xQOniwi5UJuVe3bs-JoxxA9NLA?key=wS3oju-6PGKIxd-5PEdA9A\" alt=\"\" style=\"width:549px;height:auto\" \/><\/figure>\n\n\n\n<p><em>Metaplanet&#8217;s Press Statements, Source: Metaplanet&#8217;s Inc<\/em>&nbsp;<\/p>\n\n\n\n<p>Metaplanet\u2019s stock, which is listed as 3550 on the Tokyo Stock Exchange, ended the day at 173 yen. This is a 19% increase from its previous closing price. At one point during the day, the stock price reached 195 yen. This is a big 34% increase from the closing price on Friday.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-reducing-yen-exposure-and-tax-benefits\">Reducing Yen Exposure and Tax Benefits<\/h2>\n\n\n\n<p>The Japanese yen has been weak because of low interest rates in the country for a long time. Metaplanet knows this and wants to reduce its reliance on the yen. By buying Bitcoin, the company hopes to achieve a few goals.<\/p>\n\n\n\n<p>First, Bitcoin is limited in supply and not controlled by any government. This makes it a good protection against rising prices. Metaplanet knows this and wants to protect its investments. Second, by buying Bitcoin, Metaplanet can reduce its reliance on the weak yen.<\/p>\n\n\n\n<p>Also, people in Japan have to pay high taxes on profits from cryptocurrencies. But by buying Bitcoin through Metaplanet, they can avoid these taxes.<\/p>\n\n\n\n<p>Regarding tax, Metaplanet\u2019s move also helps Japanese investors with taxes. Instead of owning Bitcoin directly (which would be taxed heavily), they can invest in it through Metaplanet. This way, they can avoid high taxes. This approach fits well with Japan\u2019s changing views on taxing cryptocurrencies. In June 2023, Japan\u2019s tax agency, the National Tax Agency, made it easier for new cryptocurrency companies by exempting them from some tax burdens.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-following-microstrategy-s-path\">Following MicroStrategy&#8217;s Path<\/h2>\n\n\n\n<p>Metaplanet\u2019s actions are similar to those of MicroStrategy, a software company from the US. MicroStrategy made a big splash by buying a lot of Bitcoin. It\u2019s now one of the biggest corporate owners of Bitcoin. Investors have noticed this, and Metaplanet\u2019s stock price shows positive sentiment.<\/p>\n\n\n\n<p>Metaplanet isn\u2019t stopping with its first investment. On June 11, 2024, the company bought another 23.5 Bitcoin, spending 250 million yen (about $1.6 million). A little over a month later, on July 16, 2024, Metaplanet invested another $1.2 million (200 million yen) in Bitcoin. This brought its total Bitcoin holdings to 1 billion yen.<\/p>\n\n\n\n<p>As of now, Metaplanet owns a total of 245.992 Bitcoin, worth $16.56 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Originally known as Red Planet Japan, Metaplanet, a Japanese investment firm that started as a budget hotel operator, has recently [&hellip;]<\/p>\n","protected":false},"author":69,"featured_media":345636,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1812,5],"tags":[54,2507,1375],"ppma_author":[2366],"class_list":["post-345634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-crypto-news","tag-bitcoin","tag-metaplanet","tag-microstrategy"],"acf":[],"authors":[{"term_id":2366,"user_id":69,"is_guest":0,"slug":"ayanfe","display_name":"Ayanfe Fakunle","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/93a3a58ce298159a3ebee896ecd6a734?s=96&r=g","first_name":"Ayanfe","twitter":"","instagram":"","linkedin":"https:\/\/www.linkedin.com\/in\/ayanfe","user_url":"","last_name":"Fakunle","facebook":"","description":"Ayanfe Fakunle is an expert content writer, journalist, and editor at the intersection of crypto, finance, and web3. His mission is to make crypto accessible, engaging, and exciting for everyone."}],"_links":{"self":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/345634"}],"collection":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/comments?post=345634"}],"version-history":[{"count":1,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/345634\/revisions"}],"predecessor-version":[{"id":345651,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/345634\/revisions\/345651"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media\/345636"}],"wp:attachment":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media?parent=345634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/categories?post=345634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/tags?post=345634"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/ppma_author?post=345634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}