Metaplanet Corporation (TSE: 3350), a publicly traded Japanese company, Announced The company’s Bitcoin holdings have increased significantly: at a recent board meeting, the company resolved to purchase an additional 250 million yen worth of Bitcoin (equivalent to $1.6 million in today’s value).
Latest Update: 🇯🇵 Japanese public company Metaplanet raises additional 250 million yen #Bitcoin pic.twitter.com/YmRDiLl02z
— Bitcoin Magazine (@BitcoinMagazine) May 28, 2024
Metaplanet has recently Outlined The company also announced how it will manage its bitcoin holdings. The company also stated that bitcoin acquired for long-term purposes will be recorded at cost to ensure stable accounting treatment over the long term. Conversely, bitcoin held for short-term purposes will be revalued at market price every quarter. Any unrealized gains or losses from these short-term holdings will be recorded in the non-operating income section of the income statement to ensure transparency and alignment with market fluctuations.
This strategic acquisition follows similar moves by companies around the world and highlights the growing acceptance of Bitcoin as a strategic and valuable asset class. Acquired Earlier this month, it purchased an additional 19.87 BTC for $2 million.
More information about Metaplanet can be found on the company’s website. here.
