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25/11/24
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Metaplanet Inc. Launches Bitcoin Magazine Japan Amid Stock Fluctuations
Tokyo-based investment firm Metaplanet Inc. has secured a licensing agreement to launch a Japanese version of Bitcoin Magazine, just half a year after it ventured into the cryptocurrency market by purchasing Bitcoin. The company announced on November 25 that it reached an exclusive deal with BTC Media Inc., a subsidiary of BTC Inc., for the rights to establish Bitcoin Magazine Japan. The publication is expected to officially debut in the first quarter of 2025.
This partnership marks a significant step for Metaplanet, which initially signed the agreement to manage the publication back in July. Notably, UTXO Management, the venture capital arm of BTC Inc., has also invested in Metaplanet, underscoring the strategic alignment between the two firms. Metaplanet emphasized the importance of Japan in the global finance and technology landscape, positioning Bitcoin Magazine Japan as a vital link for collaboration among financial institutions, regulators, and the broader Bitcoin community.
Despite the positive developments, shares of Metaplanet experienced a decline on the Tokyo Stock Exchange, falling from a high of $17.60 (2,715 yen) by 3% to $17.11 (2,630 yen) prior to the lunch break. Nonetheless, the company’s stock has skyrocketed nearly 1,550% over the course of the year, following its decision to invest in Bitcoin in early April. To date, Metaplanet has acquired over 1,142 BTC, amounting to approximately $74 million, which has appreciated significantly, bringing its current worth to around $111.5 million.
As Bitcoin Magazine Japan prepares to enter the competitive landscape of crypto news media, it will face established players that already cater to Japanese readers. The publication aims to carve a niche amidst these competitors, which include both international and local outlets. The specifics of the agreement between BTC Inc. and Metaplanet have not been disclosed, and no immediate comments were available from either party regarding the deal.
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