Metaplanet Expands Bitcoin Strategy with $25M Investment in Japan
- Metaplanet’s board approved the creation of Metaplanet Ventures and Metaplanet Asset Management.
- The firm plans to invest $25 million (¥4 billion) over two to three years in Japan’s Bitcoin ecosystem.
- Its first investment is up to $2.6 million (¥400 million) into JPYC, Japan’s first licensed yen stablecoin, as part of the firm’s Series B round.
- Metaplanet currently holds approximately $2.4 billion worth of Bitcoin, with an unrealized loss of around $1.4 billion due to a decline in Bitcoin’s value.
- The company reported a full-year loss of $605 million driven by a significant decline in its Bitcoin holdings’ value.
Metaplanet is broadening its strategy beyond accumulating Bitcoin by investing in Japan’s emerging Bitcoin infrastructure ecosystem, including lending, payments, custody, derivatives, and compliance technologies.
This strategic pivot aims to diversify revenue streams and support local blockchain startups through venture investments and grants for open-source developers and educators.(Source)
