A Japanese company called Metaplanet, a public company specializing in Web3 and Metaverse investments, has announced a significant investment in Bitcoin (BTC). The company has acquired 1 billion yen (about $6.5 million) worth of Bitcoin to use as the core of its reserve assets. This decision makes Metaplanet a pioneer in the Japanese market in adopting digital assets to hedge reserve asset risks.
Metaplanet’s strategic choice to enter the Bitcoin investment space has paid off, with the company’s stock price seeing an impressive 89% increase following the announcement. The company’s move has received support from industry giants Sora Ventures, UTXO Management, and notable names such as Morgan Creek Capital founder Mark Yusko and Ordiswap founding member Jack Liu.
Jason Fang, founder of Sora Ventures, called Metaplanet "the first MicroStrategy in Asia" and stressed that the company has the potential to provide Japanese investors with Bitcoin investment opportunities without the regulatory risks. Metaplanet's adoption of Bitcoin is seen as a major milestone, and the company expects it will strengthen its leading position in the digital asset space in Japan.
The trend of using Bitcoin as a reserve asset is supported by the American company MicroStrategy. MicroStrategy is a Fortune 500 company led by Michael Saylor. The company began its Bitcoin journey in August 2020, when Bitcoin was trading at around $10,000. In the following four years, MicroStrategy accumulated a staggering 214,246 Bitcoins, with an average purchase price of $33,706.00 per Bitcoin and a total investment of $6.91 billion. MicroStrategy currently holds Bitcoin with a market value of more than $15 billion and a profit of more than 100%.
Metaplanet saw an 89% increase in its stock price after launching BTC investment. Even in the bear market of 2022, when MicroStrategy's Bitcoin investment faced losses, Saylor remained steadfast and chose to buy more Bitcoin instead of selling. His firm belief in Bitcoin as a reserve asset not only benefits his company, but also inspires other public companies to follow suit. Notably, Saylor's influence also extends to Tesla CEO Elon Musk, who was reportedly persuaded by Saylor to invest $1.5 billion in Bitcoin in January 2021.
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Dogeverse has grown from a simple meme coin to a potential powerhouse in the cryptocurrency space thanks to its multi-chain capabilities. This approach not only broadens its appeal across different user preferences, but also serves as a unifier in the typically fragmented blockchain ecosystem. Whether users are attracted by the low transaction costs on Solana, attracted by the reputation of Ethereum, or curious about the emerging Base chain, Dogeverse is ready to welcome them with open arms.
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