Japanese digital asset investment firm Metaplanet Inc. has officially joined the CoinShares Blockchain Global Equity Index (BLOCK Index), marking a pivotal moment for the Tokyo-based company.
Managed by CoinShares, Europe's largest digital asset investment firm, the index tracks 45 prominent blockchain companies driving digital finance and technology advancements. This inclusion signifies Metaplanet's rising influence in the blockchain sector, particularly in Asia, where it is seen as a growing force.
Metaplanet's CEO, Simon Gerovich, expressed excitement over this development, noting the significance of the company's first listing in a globally recognized equity index. Metaplanet sees this as an opportunity to bolster its reputation in Asia's rapidly expanding cryptocurrency market while attracting more international investors.
The BLOCK Index listing provides the company with heightened visibility alongside major players like MicroStrategy, Coinbase, and Marathon Digital. These established firms have become key digital asset and blockchain entities, drawing institutional attention and reshaping market dynamics.
Metaplanet's addition to the index follows its commitment to increase shareholder value through strategic Bitcoin accumulation. The firm has consistently accumulated BTC inventory over time and reached 1,018 BTC this year, worth over $70m. This approach correlates with the company's strategic focus on Bitcoin as a hedge against Japan's low-interest rate regime and fluctuating yen value since other corporations follow the Bitcoin-as-a-reserve currency model.
In a move aimed at enhancing transparency, Metaplanet partnered with Hoseki, a leading Bitcoin verification solutions provider. This partnership allows users to independently verify the company's Bitcoin holdings through Hoseki Verified, a step Metaplanet considers essential for maintaining trust in its financial practices. In cooperation with the firm, BTC has unveiled a "BTC Yield" concept borrowed from MicroStrategy's performance indicator regarding the growth of its Bitcoin hedge on shareholder value.
This shows that adopting Hoseki's verification system aligns with Metaplanet's pursuit of investors who prefer transparency. This is especially so since the use of bitcoins is growing, forcing enterprises to institute better ways of ascertaining asset ownership to encourage the uptake of digital currency.
Metaplanet's strategy seems to align with what many global firms have recently done: including Bitcoin in their treasury. In April, the firm declared that it would adopt Bitcoin to minimize its credit risk on the yen as the economy has experienced some difficulties due to Japan's low-interest-rate environment. High inflation rates and risks such as political instability and global tensions have become key reasons why many corporate treasurers regard Bitcoin as a form of hedge and an asset that offers high returns.