A few days ago, the Japanese company Metaplanet had declared that it had bought Bitcoin as a form of value reserve following some turbulence in the yen market.
Yesterday it announced that its board of directors approved an additional purchase of BTC for 250 million yen (approximately 1.6 million dollars).
Summary
The Japanese company Metaplanet and Bitcoin
Metaplanet is a company listed on the Tokyo Stock Exchange with the ticker 3350.
Born in 1999 as an investment company, over time it reorganized with a new business strategy focused on Bitcoin.
The company indeed has decided, somewhat like MicroStrategy in the USA, to use BTC as the main reserve asset for its treasury, directing the excess cash flow towards further accumulations of BTC.
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“This strategic point is the result of the unique characteristics of Bitcoin, such as its absolute scarcity and apolitical monetary policy”.
Metaplanet has roots in Japan, where Bitcoin has been circulating for many years, and recently it has completely restructured its myriad of assets and activities, paving the way for a vision centered on Bitcoin.
Metaplanet on the stock exchange
The beginnings of Metaplanet on the Tokyo Stock Exchange date back to 2005, but after a first small and brief period of boom, starting from 2006 the stock lost much of its value.
In 2008 it had already lost more than 95% of the initial price.
In 2013, the same year as the first major bullrun of Bitcoin, its price briefly returned above 6,000 yen (JPY), with a remarkable +1,200% in 4 months, only to then plummet back below 300 JPY in 2014.
Since then, it has practically done nothing but go down, even during the great bullrun of 2021.
Evidently this time they decided to ride the wave, so much so that after plunging below 15 JPY in February of this year, with the recent news regarding its new strategy based on Bitcoin, the stock has recorded a +240% in recent weeks, bringing it back above 50 JPY.
The current price is still 51% lower than the peak of 2022, but at least it has returned in line with the average price of that year.
It is instead 200% higher than at the beginning of the year, and 120% higher than the average price of last year.
Un trend simile lo ha avuto anche il titolo MicroStrategy al Nasdaq, anche se la società americana ha abbracciato Bitcoin quasi quattro anni fa, e quindi la risalita è stata molto più lunga e corposa.
The Japanese Metaplanet and the purchase of Bitcoin
As of today, Metaplanet appears to possess approximately 117 BTC, although the new purchase of 1.6 million dollars should bring them at least another 23.
These figures pale in comparison to MicroStrategy’s 214,000 BTC, but also compared to, for example, Tether’s 75,000 or Tesla’s 9,700 BTC.
Basti dire che il fondo nazionale del Bhutan ne ha in cassa 621.
However, as with MicroStrategy, the start was slow, but the goal for Metaplanet seems to be to start a long accumulation campaign through which all excess reserves, or most of them, will be used over time to purchase Bitcoin.
In fact, on their official website they declare:
“The objective is to increase shareholder value through the strategic perpetual accumulation of Bitcoin, in line with a proven vision of long-term value increase”.
Additionally, the company has also started offering specialized consulting services to assist businesses in the adoption of Bitcoin.
It is evident that they have taken inspiration from the success of MicroStrategy.
The success of MicroStrategy
Analyzing the stock market performance of MicroStrategy (MSTR), the success of its Bitcoin strategy is evident.
MSTR debuted on the stock market in 1998 with a price of around $80.
After an initial boom period, in the midst of the dot-com bubble, it even rose above $3,000, only to then burst and drop to $11 in 2001.
From that moment, the price of MSTR could no longer rise above $250, until 2020 excluded, even though in fact it had already returned above the initial $80 in 2005.
But starting from the last great bullrun of Bitcoin, which began between October and November 2020, the MSTR stock also recorded a new boom in the stock market.
MicroStrategy started buying BTC in August 2020, and everything good that it has achieved since then is largely due to Bitcoin.
In 2021 the price of MSTR managed to climb back above $1,000, and although in 2022 it plummeted back below $200, between 2023 and 2024 it started a new run that brought it back up to almost $2,000 in March.
So although the all-time highs of 2000 are still far away, the current price is a whopping 480% higher than it was just before starting to buy Bitcoin.
It is more than logical to imagine that Metaplanet also wants to do the same, or at least follow in the footsteps of MicroStrategy to achieve similar results.
