Metaplanet Inc. has been listed on the Tokyo Stock Exchange (TSE Standard 3350). announced It has made a substantial increase to its Bitcoin portfolio. In a recent board of directors meeting, the company resolved to purchase an additional ¥250 million, currently worth $1.6 million USD, worth of Bitcoin.
JUST IN: 🇯🇵 Japanese public company Metaplanet to buy another ¥250 million worth of #Bitcoin pic.twitter.com/YmRDiLl02z
— Bitcoin Magazine (@BitcoinMagazine) May 28, 2024
Metaplanet was recently launched. outlined Managing Bitcoin is the company’s strategy. Bitcoins bought for long term purposes would be treated as if they were purchased at their cost. This will ensure that the accounting is stable over time. Bitcoins used for short-term goals will be valued quarterly according to market value. The non-operating section of the Income Statement will record any unrealized losses or gains from short-term investments. This provides transparency, and is in line with the market.
This purchase is part of a global trend of companies making similar purchases, highlighting the increasing acceptance of Bitcoins as an asset class that can be used for strategic purposes. Metaplanet is also acquired A further 19,87 BTC were purchased for 200 million yen earlier this month.
On its website, you can find more information about Metaplanet here.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
