- November 25, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Metaplanet Stock Soars After Securing Bitcoin Magazine Japan for Bitcoin Adoption appeared first on Coinpedia Fintech News
After signing a memorandum of understanding (MoU) with Bitcoin Magazine on July 26, 2024, Metaplanet Inc. (Tokyo: 3350) has announced the definitive agreement to launch Bitcoin Magazine Japan. According to the announcement, Bitcoin Magazine Japan will help Metaplanet to become a leading driving adoption force in the country ahead.
Moreover, Metaplanet intends to make disruptive hiring in the content creation space before the full rollout in the first quarter of 2025.
“Building a world-class team is key to ensuring Bitcoin Magazine Japan becomes the country’s leading platform for Bitcoin education and community engagement,” Metaplanet noted.
Metaplanet and Bitcoin Strategy
Metaplanet has accelerated its Bitcoin strategy in the recent past to follow in the footsteps of MicroStrategy Inc. (NASDAQ: MSTR). Last week, Metaplanet announced an additional purchase of 124.11 Bitcoins, thus bringing its total holdings to about 1,142.287 as of this writing.
As with other Bitcoin-focused companies, Metaplanet has been diluting its outstanding shares to raise more funds to acquire more BTCs. For instance, Metaplanet announced last week that it will issue $11.3 million in bonds to purchase more Bitcoins ahead.
As a result, Metaplanet stock has rallied nearly 10x since the company adopted the Bitcoin strategy. With Bitcoin price expected to rally further in the coming months, the Metaplanet stock market is well positioned to rally in tandem.
Bigger Picture
The strategic launch of Bitcoin Magazine Japan by a publicly traded company is an indication that the crypto industry is headed in the right direction. Over the past years, the government of Japan has established clear crypto regulations to enable a seamless adoption of digital assets in the country.
For instance, Japan’s Financial Services Agency (FSA) recently proposed a new business category for enterprises dealing with stablecoins and virtual assets. Under the new system, businesses involved with crypto and stablecoins will face less stringent legal requirements.
