Metaplanet Now The Largest Bitcoin Holder In Asia

Many bits of Metaplanets are investing in Bitcoin. (Photo; Doc. Cryptoslate)

JAKARTA - In the midst of Japan's economic uncertainty, Metaplanet, an investment company dubbed Asia's "MicroStrategy," committed to investing in Bitcoin (BTC). The company announced an increase in their Bitcoin investment value of US$28 million (around Rp. 434 billion). This massive strategy was taken to make Bitcoin the company's main asset and maintain the value of wealth amid the exposure to domestic economic problems.

For your information, Metaplanets have started to seriously accumulate Bitcoin since last May, when they set an initial target of 1 billion yen or the equivalent of 6.8 million US dollars (Rp105.4 billion). At that time, Japan's economy was under pressure, with yen values continuing to decline and a negative real interest rate.

According to Metaplanet CEO, Simon Gerovich, this investment is a direct response to protecting the company's assets from the impact of high state debt and yen depreciation. "Our Bitcoin has chosen to maintain asset stability in difficult economic situations," Gerovich said.

Slowly but surely, the Metaplanet collected Bitcoin to reach 360,368 BTC in August. This investment was successfully achieved after they added 57,273 BTC at a cost of 500 million yen, or about US$3.4 million (Rp52.7 billion) at the time. In no time, the Metaplanets have doubled their Bitcoin holdings and achieved a target financed by the initial loan.

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It didn't stop there, Metaplanets added bitcoin coffers last October by adding 156 BTC with a value of about 1.6 billion yen. With this addition, their total holdings reached more than 1,000 BTC, making them the corporate company with the largest Bitcoin holdings in Asia.

According to a third-quarter financial report, Bitcoin Metaplanet ownership increased from 492.82 BTC to 1,018.17 BTC in mid-November. In total, their Bitcoin investment value is now around 64 million US dollars (Rp992 billion).

Strategy That Makes Metaplanet Profit

Metaplanet's decision to rely on Bitcoin is quite risky but has proven profitable, especially amid the current surge in Bitcoin prices of IDR 1.3 billion per coin. The increase of more than 105% so far this year has made the value of the Metaplanet's shares soar.

According to Gerovich, in the past six months, the company's shares have jumped to 500%, with a Bitcoin asset valuation gain of 4.27 billion yen or about 28 million US dollars (Rp 434 billion).

Looking at these positive results, Metaplanet plans to continue to add to its Bitcoin collection. In a recent report, the company stated that it would increase the number of Bitcoins through their capital market activities and operating income. We will continue to invest in Bitcoin as needed and market conditions," the company wrote.