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Metaplanet Purchases $6.5 Million Worth of Bitcoin for Corporate Treasury

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Metaplanet,Bitcoin,Investment

Metaplanet, a publicly traded investment and consulting company, has bought 1 billion JPY ($6.5 million USD) worth of Bitcoin for its corporate treasury, following the trend set by Michael Saylor.

Following in the footsteps of Michael Saylor, yet another publicly traded company has decided to make Bitcoin its savings vehicle of choice.

“Web3” is a catch-all term for the blockchain-based era of the internet, ushering in tokenization and decentralized finance in regular life. Some of the company’s consultation services are specifically geared toward Web3 strategy and blockchain integration. “Our transition to Bitcoin is a significant milestone in our mission to lead in the digital finance era and positions Metaplanet as a pioneer in the adoption of digital assets in Japan,” wrote Metaplanet.Metaplanet boasts a market cap of 2.18 billion JPY – orders of magnitude smaller than that of MicroStrategy, the world’s leading company to adopt Bitcoin as its treasury reserve asset.

 

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