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Metaplanet & Sora Ventures To Create “Asia’s First MicroStrategy”

Published 09/04/2024, 07:41
Updated 09/04/2024, 07:45
Metaplanet & Sora Ventures To Create “Asia’s First MicroStrategy”
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Coin Edition -

  • Metaplanet allocates $6.56 million to BTC, leading digital asset adoption in Japan’s finance.
  • Multiple strategic partnerships with industry leaders facilitate Metaplanet’s transition into Bitcoin treasury assets.
  • The founder of Sora Ventures views Metaplanet as “Asia’s first MicroStrategy,” creating exposure to Bitcoin in Japan.

Metaplanet, a Tokyo Stock Exchange-listed company, announced its decision to embrace Bitcoin as a core treasury asset on April 8, 2024. This strategic move marks a milestone in the space of digital finance, marking a significant departure from traditional asset management practices.

In a statement released on social media platform X (formerly Twitter), Metaplanet revealed its allocation of ¥1 billion, which is approximately $6.56 million, to Bitcoin, signaling its strong endorsement of the leading digital asset.

Metaplanet’s foray into Bitcoin was made possible through strategic partnerships with notable figures in the financial and cryptocurrency sectors, including venture capital firm Sora Ventures, Morgan Creek Capital’s CEO Mark Yusko, Jack Liu, and others.

Jason Fang, founder of Sora Ventures, appraised Metaplanet’s decision as “Asia’s first MicroStrategy,” as this increases the chances of Japanese investors gaining exposure to Bitcoin while mitigating regulatory risks. Fang’s endorsement comes as he prepares to join Metaplanet’s new board.

For the uninitiated, MicroStrategy is renowned as the world’s largest public holder of Bitcoin, with over 214,000 BTC in its holdings valued at approximately $15.3 billion. MicroStrategy’s BTC bet has emerged as a model for companies like Sora Ventures coming into the space of digital assets.

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