Metaplanet Makes Bitcoin a Reserve Asset As Japan’s Debt Mountain Grows

Tokyo-listed Metaplanet has adopted bitcoin (BTC) as a strategic reserve asset as a hedge against Japan's debt burden and the resulting volatility in the yen. "Metaplanet has adopted bitcoin as its strategic reserve asset. The move is a direct response to sustained economic pressures in Japan," the company said in the press release on Monday. Metaplanet, an early-stage investment firm, has moved away from any involvement in Web3 and is now only focused on bitcoin alongside exposure to commercial real estate. The move stands out because it comes at a time when Japan's fiscal crisis is said to be playing out in the currency market.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android