Metaplanet, a decades-old Japanese Public company providing hospitality and technology-related services, recently announced a major strategic pivot – embracing Bitcoin as a core corporate treasury asset.
Last month, Metaplanet revealed it acquired over $6 million worth of Bitcoin, marking the company’s foray into digital assets. This mirrors MicroStrategy’s pioneering move to allocate part of its reserves to Bitcoin starting in 2020.
Following the news, Metaplanet has recently hired leading industry analyst Dylan LeClair as Director of Bitcoin Strategy to accelerate its new Bitcoin focus. LeClair is head of market research for Bitcoin Magazine and UTXO Management, and is respected for his expertise in on-chain analytics and macroeconomics.
At Metaplanet, LeClair will craft the corporate Bitcoin strategy, using public markets tools to accumulate BTC for the balance sheet. This aligns with Metaplanet’s vision for advancing Bitcoin’s role in its balance sheet.
LeClair commented: “I’m extremely excited to be joining Metaplenat to implement a corporate Bitcoin standard. By leveraging various corporate financial strategies, we aim to further establish a blueprint for corporate Bitcoin adoption in Japan and beyond.”
He added, “Metaplanet seeks to highlight the strategic benefits of adopting Bitcoin, particularly in regions where political currencies face heightened structural weaknesses.”
Metaplanet is positioning itself as a “MicroStrategy of Asia,” mimicking the software firm’s approach to strengthening its balance sheet with Bitcoin.
MicroStrategy holds over $10 billion in BTC reserves, a strategy that increased its enterprise value considerably.
Sora Ventures’ Jason Fang called Metaplanet “Asia’s first MicroStrategy.” The move also enables Japanese investors to gain Bitcoin exposure without paying capital gains taxes, which can reach 55% in the country.
Metaplanet offers a path for public market investors and institutions to invest in Bitcoin. This is a major development as corporate Bitcoin adoption goes mainstream.
If Metaplanet follows MicroStrategy’s playbook, significantly increasing BTC reserves over time, it could provide meaningful upside for investors and validation for Bitcoin.
Bitcoin Magazine is wholly owned by BTC Inc., which operates UTXO Management, a regulated capital allocator focused on the digital assets industry. UTXO invests in a variety of Bitcoin businesses, and maintains significant holdings in digital assets.