Japanese Firm Metaplanet to Add $659M in Bitcoin to Its Treasury
On April 8, Metaplanet, a firm based in Japan, disclosed its strategy to bolster its treasury with 1 billion yen ($659M) in bitcoin (BTC). $Metaplanet(3350.JP$
Previously known as Red Planet, Metaplanet shifted its focus from hospitality to becoming a Web3 development innovator.
Previously known as Red Planet, Metaplanet shifted its focus from hospitality to becoming a Web3 development innovator.
Fang mentioned that: "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. I will be joining the board on the listed company"
Following Metaplanet's disclosure of its bitcoin strategy, its stock value climbed 89.47% relative to the U.S. dollar. The market valuation of this Japanese enterprise now stands at 2.18 billion yen, equivalent to $14.3 million, aligning it with other major players like Microstrategy, Mogo Inc., and Tesla.
Following Metaplanet's disclosure of its bitcoin strategy, its stock value climbed 89.47% relative to the U.S. dollar. The market valuation of this Japanese enterprise now stands at 2.18 billion yen, equivalent to $14.3 million, aligning it with other major players like Microstrategy, Mogo Inc., and Tesla.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Posting Weekly in 2024: (sorry if delayed post)-busy!
- Investing/ Finance /Economics
Road to Hedge Fund!!! Trend📈
857Followers
34Following
2395Visitors
Follow