Metaplanet to Buy ¥250 Million More in Bitcoin

Metaplanet Inc. announces an additional ¥250 million Bitcoin purchase, furthering its strategic investment.
Metaplanet to Buy ¥250 Million More in Bitcoin

Key Takeaways

  • Metaplanet to buy another ¥250 million worth of Bitcoin.
  • Bitcoin for long-term purposes will be recorded at cost.
  • Metaplanet acquired 19.87 BTC earlier this month for 200 million yen.

Metaplanet Inc. (TSE Standard: 3350), a publicly traded Japanese company, has announced plans to purchase an additional ¥250 million ($1.6 million USD) worth of Bitcoin.

This decision, made during a recent board of directors meeting, marks another significant enhancement to the company’s Bitcoin holdings.

The company detailed its approach to managing these holdings, stating that Bitcoins acquired for long-term purposes will be recorded at cost, ensuring stable accounting treatment.

In contrast, Bitcoins held for short-term purposes will be revalued quarterly at market value.

This means any unrealized gains or losses from short-term holdings will be recorded in the non-operating income section of the income statement, aligning with market fluctuations and providing transparency.

This strategic purchase follows Metaplanet’s recent acquisition of 19.87 BTC earlier this month for 200 million yen.

These moves underscore the growing trend of companies globally recognizing Bitcoin as a valuable asset class, similar to the strategies employed by firms like MicroStrategy.

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