Japanese listed company Metaplanet adopts Bitcoin as a strategic reserve asset! Follow MicroStrategy

Japanese listed company Metaplanet announced on Monday that it would adopt Bitcoin as a "strategic reserve asset" in order to seek a safe haven from it, hoping to use it to hedge against Japan's high financial debt and the sharp depreciation of the yen. Serious situation.

Metaplanet, a Tokyo-listed cryptocurrency investment and advisory firm, said in a press release: The move is a direct response to ongoing economic pressures in Japan, particularly high government debt levels and long-term real interest rates. Negative values ​​and the resulting weakness in the yen.

Japan’s economic growth continues to shrink this year. According to statistics from the International Monetary Fund (IMF), Japan’s government debt accounts for 254.6% of GDP, far ahead of all developed countries. "Reuters" reported that despite the government's decision to raise interest rates in March, the yen still fell to its lowest level in 34 years last month.

Metaplanet wrote: “Bitcoin’s monetary policy will not change until 2140, which distinguishes Bitcoin from other competing cryptocurrency projects that are operated at the whim of centralized development teams. Bitcoin There will always be only 21,000,000."

Metaplanet added in the press release that the company aims to use "all" capital market tools to increase Bitcoin reserves, emulating the strategy of US-listed company MicroStrategy.

According to data from Bitcointreasuries.net, Metaplanet has purchased 117.7 Bitcoins ($7.2 million) since April this year; while MicroStrategy currently holds a total of 214,278 Bitcoins, worth approximately $7.53 billion.

Metaplanet said: “As the yen continues to weaken, Bitcoin provides a non-sovereign store of value that has and may continue to appreciate relative to traditional fiat currencies.”

The company Plan to hold Bitcoin for a long time and purchase more Bitcoin through debt issuance as appropriate.

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