Metaplanet, a decades-old Japanese public company providing hospitality and technology-related services, recently announced a major strategic pivot – adopt Bitcoin as a basic asset for corporate treasury.
Last month, Metaplanet revealed it acquired more than $6 million worth of Bitcoin, marking the company's foray into the digital asset space. This reflects MicroStrategy pioneering initiative to allocate part of its reserves to Bitcoin from 2020.
Following the news, Metaplanet has recently hired leading industry analyst Dylan LeClair as Director of Bitcoin Strategy to accelerate its new Bitcoin direction. LeClair is the head of market research for Bitcoin Magazine and UTXO Management, and is respected for his expertise in on-chain analysis and macroeconomics.
At Metaplanet, LeClair will develop the Bitcoin business strategy, using public markets tools to accumulate BTC for the balance sheet. This aligns with Metaplanet’s vision to advance Bitcoin’s role on its balance sheet.
LeClair commented: “I am extremely excited to join Metaplenat to implement an enterprise Bitcoin standard. By leveraging various corporate financial strategies, we aim to further establish a model for business adoption of Bitcoin in Japan and beyond.
He added: “Metaplanet seeks to highlight the strategic benefits of Bitcoin adoption, particularly in regions where political currencies face increased structural weaknesses. »
Metaplanet is positioning itself as an “Asian microstrategy,” mimicking the software company’s approach of strengthening its balance sheet with Bitcoin.
MicroStrategy holds over $10 billion in BTC reserves, a strategy that has significantly increased its enterprise value.
Jason Fang of Sora Ventures called Metaplanet “Asia’s first microstrategy.” The move also allows Japanese investors to gain exposure to Bitcoin without paying capital gains taxes, which can reach 55% in the country.
Metaplanet offers investors and public market institutions the opportunity to invest in Bitcoin. This is a major development as business adoption of Bitcoin becomes more widespread.
If Metaplanet follows MicroStrategy's playbook, significantly increasing BTC reserves over time, it could provide significant investor benefit 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 sector. UTXO invests in various Bitcoin businesses and holds significant stakes in digital assets.