Metaplanet Inc. (TSE: 3350), a publicly traded Japanese company Announce A significant boost to its Bitcoin holdings. At a recent board meeting, the company decided to purchase an additional 250 million yen, currently worth US$1.6 million, of Bitcoin.
JUST IN: 🇯🇵 Japanese public company Metaplanet buys another 250 million yen #Bitcoin pic.twitter.com/YmRDiLl02z
– Bitcoin Magazine (@BitcoinMagazine) May 28, 2024
Metaplanet has recently the summary Their approach to managing their bitcoins. The company also stated that bitcoins acquired for long-term purposes will be recorded at cost, ensuring stable accounting treatment over time. Conversely, bitcoins held for short-term purposes will be revalued every three months at market value. Any unrealized gains or losses from these short-term holdings will be recorded in the non-operating income section of the income statement, providing transparency and alignment with market fluctuations.
This strategic purchase follows a series of similar moves by companies globally, underscoring the growing acceptance of Bitcoin as a strategic and valuable asset class. Meta Planet too acquired An additional 19.87 BTC earlier this month for a purchase price of 200 million yen.
For more information about Metaplanet, additional details can be found on its website here.