Metaplanet, a decades-old public Japanese company that provides hospitality and technology-related services, recently announced a major strategic pivot — embracing Bitcoin as a core asset for its corporate treasury.
Last month, Metaplanet revealed that it had acquired over $6 million worth of Bitcoin, marking the company's foray into digital assets. This reflects MicroStrategy's pioneering move to allocate a portion of its reserves to Bitcoin starting in 2020.
Following the news, Metaplanet Recently rented Leading industry analyst Dylan LeClair As Director of Bitcoin Strategy to accelerate its new focus on Bitcoin. LeClair is the head of market research at Bitcoin Magazine and UTXO Management, and is respected for his expertise in on-chain and macroeconomic analytics.
At Metaplanet, LeClair will formulate the company's Bitcoin strategy, using public markets tools to accumulate BTC for the balance sheet. This is in line with Metaplanet's vision to strengthen Bitcoin's role on its balance sheet.
LeClair commented, “I am very excited to join Metaplenat to implement the Bitcoin standard for businesses. By leveraging various corporate financial strategies, we aim to further chart the adoption of Bitcoin for businesses in Japan and beyond.”
He added: “Metaplanet seeks to highlight the strategic benefits of adopting Bitcoin, especially in areas where political currencies face increasing structural vulnerabilities.”
Metaplanet positions itself as a “mini-strategy for Asia,” mimicking the software company’s approach to strengthening its balance sheet with Bitcoin.
MicroStrategy has over $10 billion in Bitcoin reserves, a strategy that has dramatically increased its enterprise value.
Jason Fang of Sora Ventures called Metaplanet “Asia's first micro strategy.” The move also allows Japanese investors to gain exposure to Bitcoin without paying capital gains taxes, which can be as high as 55% in the country.
Metaplanet offers a path for public market investors and institutions to invest in Bitcoin. This is a major development as Bitcoin adoption for businesses becomes mainstream.
If Metaplanet follows MicroStrategy's playbook, significantly increasing BTC reserves over time, this could provide beneficial upside for investors and validation for Bitcoin.
Bitcoin Magazine is wholly owned by BTC Inc., which operates UTXO Management, a regulated capital specialist focused on the digital assets industry. UTXO invests in a variety of Bitcoin businesses, and maintains significant holdings in the digital asset.