Categories: Bitcoin Latest News

Metaplanet to Buy Another ¥250 Million Worth of Bitcoin

Metaplanet Inc. (TSE Standard: 3350), a Japanese publicly traded company, has announced a significant enhancement to its Bitcoin holdings. In a recent board of directors meeting, the company resolved to purchase an additional ¥250 million, currently worth $1.6 million USD, worth of Bitcoin.

JUST IN: 🇯🇵 Japanese public company Metaplanet to buy another ¥250 million worth of #Bitcoin pic.twitter.com/YmRDiLl02z

— Bitcoin Magazine (@BitcoinMagazine) May 28, 2024

Metaplanet has recently outlined its approach to managing their Bitcoin. 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 quarterly 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 aligning 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. Metaplanet also acquired an additional 19.87 BTC earlier this month for a purchase price of 200 million yen.

For further information on Metaplanet, additional details can be found on its website here.

Read More[#item_full_content]Bitcoin Magazine – Bitcoin News, Articles and Expert Insights

Recent Posts

See How Fast Your Savings and Salary Are Collapsing Against Bitcoin

With the price surging above $90,000, you’re likely all too aware that everything that isn’t…

1 hour ago

ColliderScript: A $50M Bitcoin Covenant With No New Opcodes

While the last year or two have seen a number of proposals for covenant-proposing extensions…

1 hour ago

Bitcoin: The Key to Unlocking the Dream of Homeownership for a Generation Priced Out

Picture this, dear reader: It’s 2016, and for the princely sum of $288,400, you could…

1 hour ago

Buy As Much Bitcoin As You Can Before $100K

Follow Nikolaus On X Here Today, Fox Business’s Eleanor Terrett revealed that the Pennsylvania House…

2 hours ago

MicroStrategy’s Bitcoin Strategy Won’t Work As Well for Other Companies

Look, I am not an expert in public markets, but raising money to buy more…

2 hours ago

Bitcoin Trader Unrealized Profit Margins At High Levels – Risk Of Correction?

Bitcoin set a new all-time high yesterday, reaching $93,483, continuing its impressive rally without significant…

3 hours ago