Metaplanet's Stock Skyrockets

According to Google Finance data, Metaplanet shares surged 12% to 96 yen ($0.60), continuing an uptrend that has seen it gain over 500% this year. This dramatic rise follows the company's latest announcement, bolstering investor confidence and market performance.

Board Approves Bitcoin Purchase

The company's board has approved the decision to acquire Bitcoin for long-term holding. In an official statement, Metaplanet said: 'The funds for this purchase will be allocated from the capital raised through the issuance of the second series of ordinary bonds (with guarantees).'

These bonds will be issued to EVO FUND at an annual interest rate of 0.5% and will mature on June 25, 2025. The payment date is set for June 26, 2024.

Financial Strategy and Taxation

Metaplanet clarified its accounting policies for Bitcoin holdings. It will record its long-term Bitcoin holdings at acquisition cost, exempt from end-of-term market value assessment taxations.

Other Bitcoin holdings will be evaluated quarterly at market prices, and any gains or losses will be reported as non-operating income or expenses.

The company further explained:

'While our basic policy is to hold Bitcoin for the long term, if we use Bitcoin for operations or other purposes, the corresponding Bitcoin balance will be recorded as current assets on the balance sheet.'

Recent Bitcoin Acquisitions

This bond issuance follows Metaplanet's recent purchase of 250 million yen worth of Bitcoin earlier this month. According to CryptoSlate, this purchase increased the company's total Bitcoin holdings to 141.07 BTC, making it one of the world's top 30 corporate holders of Bitcoin.

In May, Metaplanet announced Bitcoin as its strategic treasury reserve asset. For this strategic move, the company cited high government debt, prolonged negative, accurate interest rates, and a weak yen.

Mirroring MicroStrategy

Metaplanet's current moves echo those of MicroStrategy, the largest corporate holder of Bitcoin. Last week, the Michael Saylor-led company purchased around 12,000 BTC for $786 million, bringing its total holdings to 226,631 BTC, valued at almost $15 billion.

Metaplanet's alignment with industry leaders underscores its commitment to leveraging Bitcoin as a critical asset in its financial strategy.## Metaplanet's Stock Skyrockets According to Google Finance data, Metaplanet shares surged 12% to 96 yen ($0.60), continuing an uptrend that has seen it gain over 500% this year. This dramatic rise follows the company's latest announcement, bolstering investor confidence and market performance.

Board Approves Bitcoin Purchase

The company's board has approved the decision to acquire Bitcoin for long-term holding. In an official statement, Metaplanet said: 'The funds for this purchase will be allocated from the capital raised through the issuance of the second series of ordinary bonds (with guarantees).' These bonds will be issued to EVO FUND at an annual interest rate of 0.5% and will mature on June 25, 2025. The payment date is set for June 26, 2024.

Financial Strategy and Taxation

Metaplanet clarified its accounting policies for Bitcoin holdings. It will record its long-term Bitcoin holdings at acquisition cost, exempt from end-of-term market value assessment taxations.

Other Bitcoin holdings will be evaluated quarterly at market prices, and any gains or losses will be reported as non-operating income or expenses.

The company further explained:

'While our basic policy is to hold Bitcoin for the long term, if we use Bitcoin for operations or other purposes, the corresponding Bitcoin balance will be recorded as current assets on the balance sheet.'

Recent Bitcoin Acquisitions

This bond issuance follows Metaplanet's recent purchase of 250 million yen worth of Bitcoin earlier this month. According to CryptoSlate, this purchase increased the company's total Bitcoin holdings to 141.07 BTC, making it one of the world's top 30 corporate holders of Bitcoin.

In May, Metaplanet announced Bitcoin as its strategic treasury reserve asset. For this strategic move, the company cited high government debt, prolonged negative, accurate interest rates, and a weak yen.

Mirroring MicroStrategy

Metaplanet's current moves echo those of MicroStrategy, the largest corporate holder of Bitcoin.

Last week, the Michael Saylor-led company purchased around 12,000 BTC for $786 million, bringing its total holdings to 226,631 BTC, valued at almost $15 billion.

Metaplanet's alignment with industry leaders underscores its commitment to leveraging Bitcoin as a critical asset in its financial strategy.