Metaplanet’s Strategic Bet on Bitcoin

adminApril 10, 2024

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Metaplanet, a publicly traded company specializing in Web3 and Metaverse ventures, announced a major investment in Bitcoin (BTC) in a bold move that mirrors that of US giant MicroStrategy. The company acquired 1 billion yen (about $6.5 million) worth of BTC, making it a key asset for its treasury. This decision positions Metaplanet as a pioneer in the Japanese market embracing digital assets to hedge treasuries.

How Metaplanet Jumped into Bitcoin Investing

The strategic choice to adopt BTC has already paid dividends for Metaplanet, with the stock soaring 89% following the announcement. The company’s move was supported by industry heavyweights such as Sora Ventures and UTXO Management, as well as celebrities such as Mark Yusko, founder of Morgan Creek Capital, and Jack Liu, founding member of Ordiswap.

Jason Fang, founder of Sora Ventures, praised Metaplanet as “Asia’s first MicroStrategy,” highlighting the company’s potential to provide Japanese investors with exposure to Bitcoin without the burden of regulatory risk. Metaplanet’s adoption of BTC is considered a significant milestone, and the company expects to strengthen its position as a leader in digital asset adoption in Japan.

The trend of using Bitcoin as a financial asset gained attention through MicroStrategy, a Fortune 500 company led by Michael Saylor. The US-based company began its Bitcoin journey in August 2020, purchasing BTC when it was trading around $10,000. Over the next four years, MicroStrategy accumulated a whopping 214,246 BTC, worth a total of $6.91 billion, with an average purchase price of $33,706.00 per BTC. The current market value of MicroStrategy BTC holdings exceeds $15 billion, generating returns of over 100%.

Today we are excited to announce a groundbreaking change in our financial strategy, embracing Bitcoin as the company’s core financial asset with an initial investment of 1 billion yen. This strategic shift is not only about embracing digital assets… pic.twitter.com/OASxj9IBPG
— Metaplanet Co., Ltd. (@Metaplanet_JP) April 8, 2024

Even during the 2022 bear market, when MicroStrategy’s BTC investments were bogged down, Saylor remained steadfast, choosing to buy more rather than sell. Convincing Bitcoin as a financial hedging asset has not only benefited his company, but also inspired other public companies to follow suit. In particular, Saylor’s influence extended to Tesla CEO Elon Musk, who reportedly decided to invest $1.5 billion in BTC in January 2021 following Saylor’s persuasion.

Unlocking the Potential of the Dogeverse: The Chain-Hopping Meme Coin Revolution

In the dynamic world of cryptocurrency, Dogeverse has emerged as an attractive new competitor that differentiates itself through its unique chain-hopping capabilities. This innovative meme coin, represented by Cosmo the Shiba Inu, is not just another coin added to the cryptocurrency zoo. Existing on six different blockchain networks, including Ethereum, BNB Chain, Polygon, Base, Solana, and Avalanche, Dogeverse offers an unparalleled level of interoperability and accessibility.

Dogeverse’s journey from a simple meme coin to a potential powerhouse in the cryptocurrency space is driven by its multi-chain capabilities. This approach not only broadens appeal across a variety of user preferences, but also serves as a unifying force in an often fragmented blockchain ecosystem. Whether users are drawn to Solana’s low transaction costs, Ethereum’s solid reputation, or curiosity about a new native chain, Dogeverse is ready to welcome them with open arms.

One of the most attractive aspects of Dogeverse is its ability to foster community among diverse blockchain users. By leveraging cross-chain bridges such as Wormhole and PortalBridge, we aim to alleviate the competition that sometimes arises between different blockchain communities. This, combined with the fascinating lore surrounding Cosmo, has the potential to elevate the Dogeverse beyond the performance of previous meme coins like Dogecoin.

At the heart of Dogeverse’s appeal is Cosmo’s legendary adventures and the living lore that invites users of each blockchain to contribute their own stories to the mythology. This will not only enrich the story behind the project, but also enhance its appeal and appeal, setting the stage for Dogeverse to become a mythical figure in the cryptocurrency world.

Dogeverse’s pre-sale will consist of 10 stages, with the token price gradually increasing from $0.0000290 in the initial stage to $0.000299 in the final stage. With a total supply of 200 billion tokens, 30 billion will be allocated for pre-sale, with a soft cap of $8.83 million and a hard cap of $170.02 million. Amazingly, Dogeverse has already generated over $300,000 in revenue on its first day of pre-sale, indicating strong market enthusiasm.

For those interested in the promise of Dogeverse and its new approach to blockchain interoperability, you can participate in the presale at thedogeverse.com. The project not only promises immediate benefits through versatile usability across multiple chains, but also holds potential for long-term growth as it works to bridge gaps within the blockchain community.

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