Metaplanet Buys Bitcoin Worth IDR 104 Billion In August

Metaplanet bought Bitcoin worth IDR 104 billion in August (Photo; Doc. Coinfomania)

JAKARTA - The Metaplanet, known as the Japan's MicroStrategy', has again attracted attention after purchasing Bitcoin (BTC). This move is considered the company's strategy to protect its assets from weakening Japan's Yen value, and imitates MicroStrategy's move, a technology company from the United States that has long been known as the main supporter of Bitcoin.

Metaplanet, which previously focused on being a consulting firm Web3, has started embracing Bitcoin as a reserve asset since May this year. Since then, Metaplanet shares have soared more than 500%, demonstrating the great interest of Japanese investors in assets that can protect the value of their wealth amid Yen's weakening.

According to Coinspeaker information, in August, Metaplanet secured a loan with an annual interest rate of 0.1% to buy Bitcoin worth 6.8 million US Dollars (approximately IDR 104 billion). With this purchase, the company's total Bitcoin holdings exceed 360 BTC. This strategy follows in the footsteps of MicroStrategy, which has purchased Bitcoin by utilizing low-cost loans, thus leveraging inflation to reduce debt value while hoping the price of Bitcoin continues to rise.

Japanese Yen has been a weak currency since the eruption of an asset price bubble in 1992, which caused a period of Japanese economic stagnation. The policy of easing quantitatively and negative interest rates implemented over the years has exacerbated the situation, and foreign investors are also using low-cost Yen to trade speculatively on a large scale.

However, what's interesting about this story is the possibility of Metaplanets being the first company to buy meme coins. In this case, Bitcoin Dogs (0DOG), a meme coin that has made history as the first Initial Coin Offering (ICO) on the Bitcoin network, is a major concern.

Bitcoin Dogs has raised funds of 13.4 million US Dollars (approximately IDR 206 billion) and is quickly listed on various exchanges such as MEXC, Gate.io, Uniswap, and UniSat. Communities supporting Bitcoin Dogs are very strong, with 0DOG token holders choosing not to disburse their holdings over the first six months, showing great confidence in the future of these tokens.

Speculation that the Metaplanets might add 0DOG to their portfolio is growing. Given the strong correlation between 0DOG and BTC, as well as the potential for a significant price increase if the Metaplanet makes purchases, this move is considered reasonable in improving market conditions.

If it is true that the Metaplanet made the purchase of 0DOG, the price of this meme coin is expected to soar, and it is possible to become a token that has a potential value increase of up to 100 times. For investors who regret not buying Bitcoin in the early days, joining Bitcoin's first ICO could be a rare opportunity to participate in history.