Metaplanet, a company listed on the Tokyo Stock Exchange, revealed on April 8 its decision to adopt Bitcoin as a primary asset in its treasury. Through a statement on social media platform X (previously Twitter), the company announced the allocation of ¥1 billion (around $6.56 million) to Bitcoin, marking a significant shift in its financial strategy.

This move signifies more than just embracing digital assets; it signals a commitment to pioneering innovation in finance. Metaplanet sees this transition as a key step towards leading in the digital finance era and establishing itself as a trailblazer in Japan's adoption of digital assets.

The company achieved this milestone through partnerships with Sora Ventures, Morgan Creek Capital's CEO Mark Yusko, Jack Liu, and others. Despite this move, Metaplanet's stock has experienced a 5% decline over the past five days, currently trading at 19 JPY.

Notably, this trend of companies venturing into Bitcoin is not new. Last month, Nilam Resources, a microcap company, unveiled plans to acquire 24,000 BTC, though concerns were raised about the move resembling a "pump and dump" scheme. Jason Fang, the founder of Sora Ventures, likened Metaplanet's move to "Asia's first MicroStrategy," highlighting the opportunity it presents for Japanese investors to access Bitcoin without facing high unrealized gains taxes or regulatory risks.

Fang will also join Metaplanet's new board. MicroStrategy, known for holding a significant amount of Bitcoin, currently owns over 214,000 BTC valued at approximately $15.3 billion.