Bitcoin Regains $63K as Japan Public Firm Migrates to BTC-only Reserve

• Metaplanet adopts Bitcoin as its main treasury asset in response to Japan’s economic challenges.
• The company boasts a Bitcoin portfolio of 117.7 BTC worth $32.71 million.
• Bitcoin value reclaimed $63K amid Metaplanet’s new BTC-only reserver policy.

Metaplanet, a Japanese public company listed on the Tokyo Stock Exchange, has unveiled a white paper detailing its decision to adopt Bitcoin as its primary treasury reserve asset. This strategic pivot comes as a response to Japan’s persistent economic challenges, which include high levels of government debt, enduring negative real interest rates, and a weakening yen.

Metaplanet’s white paper outlines a “Bitcoin-first, Bitcoin-only” approach, departing from traditional treasury management strategies. The company strongly believes in Bitcoin’s fundamental advantages over traditional currencies, other stores of value, and different crypto-assets. 

Furthermore, Metaplanet hails Bitcoin as an “absolutely scarce digital synthetic monetary commodity” with a fixed supply cap of 21 million coins. According to the paper, this feature sets Bitcoin apart from other monetary systems and commodities.

Contrary to wides…

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