Publicly traded investment company Metaplanet has made a significant shift in its financial strategy by incorporating Bitcoin into its treasury reserves amidst the ongoing depreciation of the Japanese yen. The Tokyo-based firm officially announced this strategic move on May 13, citing persistent economic challenges in Japan, including high government debt, prolonged periods of negative real interest rates, and the resulting weakness of the yen. The company expressed its intention to prioritize Bitcoin as its primary reserve asset, marking a departure from traditional treasury management practices.

While the exact amount of Bitcoin held or planned to be held in Metaplanet's treasury remains unspecified, the company disclosed its recent purchase of 117.7 BTC (approximately $7.19 million) on May 10, acquired at an average price of around 10.2 million yen or $65,000. Metaplanet's market value is currently estimated at around 3.5 billion yen, equivalent to roughly $20 million. This adoption of Bitcoin follows the company's earlier announcement in April regarding its new Bitcoin-focused strategy and the completion of its initial Bitcoin purchase worth $6.5 million.

The decision to integrate Bitcoin into its treasury management has garnered significant attention and positively impacted Metaplanet's stock performance on the Tokyo Stock Exchange. Trading under the numeric symbol 3350, Metaplanet's stock experienced a notable surge from 20 JPY ($0.13) to above 35 JPY ($0.22) shortly after the firm's announcement of its Bitcoin purchase in April. Prior to its pivot to Bitcoin, Metaplanet primarily engaged in traditional investment activities, including hotel business operations, investment services, and investor relations consultancy.

The recent appointment of market researcher Dylan LeClair as director of Bitcoin strategy further underscores Metaplanet's commitment to its new Bitcoin-focused approach. In a recent post on the company's decision to increase its Bitcoin holdings, CEO Simon Gerovich expressed optimism about the future, hinting at further developments in line with the company's Bitcoin strategy. This strategic shift coincides with the continued depreciation of the Japanese yen, which has experienced significant declines against the U.S. dollar in 2024, reaching record lows not seen since the 1990s. Factors contributing to the yen's depreciation include disparities in domestic and foreign interest rates and a widening trade deficit over the past three years.