Several companies in Japan are staking their future on Bitcoin ($BTC) and are buying up more of the digital currency. These include a former hotel developer, a software development company, and a mobile game studio.
But what’s driving them to spend billions of yen on $BTC? We’ll discuss these and more in today’s article.
Plus, we’ll find out why meme coins are also following suit in their optimism for $BTC’s future.
If you’re an investor betting on the cryptocurrency’s growth, you can check out BTC Bull Token ($BTCBULL). It’s currently one of the best presales in the market, which brings together $BTC believers to leverage its rise beyond $100K.
Why Is Japan Riding the $BTC Wave?
Japanese firm Metaplanet Inc. saw its stock value rise by a whopping 4,056% over the past year after adopting a ‘Bitcoin-first’ strategy.
Its CEO Simon Gerovich revealed that he modeled this approach after hearing about Michael Saylor’s MicroStrategy crypto plans on a podcast. Saylor’s company has since amassed $BTCs worth $45B.
Metaplanet’s strategy has since drawn in more investors to the company, adding 50K more shareholders during the same period.
Meanwhile, Tokyo-based mobile game studio Gumi announced its plans to acquire ¥1B worth of $BTC over the next three months beginning this February
Aside from depending on the appreciation of the cryptocurrency’s value, the company also wants to earn staking-related income from its investment.
There are several reasons why some Japanese companies are buying up $BTC.
For one, the US government has taken a friendlier approach to cryptocurrencies with the re-election of Donald Trump. The market reacted positively, which drove $BTC’s price to nearly $110K during Trump’s inauguration.
Japan is also facing a weak yen. This is forcing local firms to look for ways to protect their finances from the continued depreciation of their currency.
With Bitcoin’s bullish momentum pushing the rest of the market forward, one presale set out to ride the Bitcoin wave.
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