Asia's MicroStrategy "Metaplanet" buys another 200 million yen in Bitcoin, and Japanese companies are rushing into the cryptocurrency market

Metaplanet, a Tokyo Stock Exchange-listed company often referred to as “Asia’s MicroStrategy,” has acquired another 20.2 Bitcoin (BTC) worth about 200 million yen (about $1.2 million). This is the company’s fourth Bitcoin purchase in four months.

Metaplanet’s Total Bitcoin Holdings and Purchase History

With this latest acquisition, Metaplanet’s total Bitcoin holdings have reached 161.27 BTC, worth more than 1.6 billion yen (more than $10 million). The company previously made acquisitions on April 23, May 10, and June 10, with each acquisition contributing to its growing reserves.

Metaplanet’s stock price rose 10% after its third Bitcoin purchase. This reflects investor confidence in the company’s strategic shift toward cryptocurrency investments.

Metaplanet, which traditionally focused on hotel development and real estate, has shifted to investing in Bitcoin. The company sees Bitcoin as a reserve asset, a hedge against the depreciation of the yen, and a safeguard against Japan’s economic challenges.

Metaplanet vs MicroStrategy

Metaplanet’s strategy is similar to that of MicroStrategy, a large company that also uses Bitcoin as a hedge against economic instability. Currently, there are 321,223 BTC held by listed companies worldwide, with MicroStrategy holding 226,331 BTC, a large portion of its market cap.

Japanese companies are increasingly entering the cryptocurrency market. A survey by Nomura Securities showed that as many as 54% of fund managers in Japan plan to invest in cryptocurrencies in the next three years.

Sony Enters Crypto Market

Japan’s top multinational Sony Group has officially entered the cryptocurrency trading space. The announcement stated that Amber Japan Co Ltd, a cryptocurrency exchange company formerly known as DeCurret Inc, officially changed its name to S.BLOX Co Ltd on July 1, 2024. As a result, WhaleFin’s cryptocurrency trading service will undergo a series of changes to adapt to other subsidiaries of the Sony Group.

Sony Group, a Japanese conglomerate known for its contributions to the gaming, music and camera industries, has now officially entered the cryptocurrency exchange market with the acquisition of Amber Japan. This subsidiary of the global Amber Group provides regulated digital asset trading services.

Amber Japan, formerly known as DeCurret, has rebranded to S.BLOX. WhaleFin, a cryptocurrency trading platform operated by Amber Japan, will undergo a major update, including a redesigned user interface and improved mobile applications. The updates are designed to enhance usability and expand supported currencies and features.

Amber Group expanded into Japan in 2022 by acquiring DeCurret and rebranding it to Amber Japan. The company faced financial difficulties due to its exposure to the now-defunct cryptocurrency exchange FTX. In response, Amber Group raised $300 million in a Series C round led by Fenbushi Capital, with participation from Temasek, Sequoia China, Pantera, Tiger, and Coinbase. The funds are intended to protect customers affected by the FTX collapse.

Sony's strategic diversification

Sony's acquisition of Amber Japan is part of a broader strategy to diversify its portfolio, which has a market value of more than $100 billion. Sony has been exploring the use of non-fungible tokens (NFTs) and blockchain technology in games. In March 2023, Sony applied for a patent for an "NFT framework for transferring and using digital assets between gaming platforms," ​​which aims to enable cross-platform NFT use, including features such as NFT locking gameplay and rewarding players with NFTs.