Metaplanet has announced a strategic partnership with Hoseki, a global leader in Bitcoin verification solutions.
This collaboration aims to enhance transparency in Metaplanet’s Bitcoin holdings by utilizing Hoseki’s advanced verification technology to allow users to authenticate the company’s Bitcoin reserves.
The partnership, announced on Tuesday, July 23, introduces the Hoseki Verified initiative, which is set to establish a new standard for corporate transparency in Bitcoin holdings. Metaplanet emphasized that this move aligns with Bitcoin’s core principle of “Don’t Trust, Verify” and is crucial in building trust within the cryptocurrency community as Bitcoin adoption continues to grow worldwide.
“The partnership with Hoseki underscores our commitment to transparency and aligns with Bitcoin’s ethos of verifiability in a decentralized financial landscape… As digital currencies gain traction, the importance of maintaining an auditable and transparent ledger cannot be overstated,”
Metaplanet stated
This development follows Metaplanet’s decision in April 2024 to include Bitcoin in its treasury assets, driven by concerns over the Japanese yen’s vulnerability and Bitcoin’s potential as an inflation hedge and source of long-term capital appreciation. The strategy has already positively impacted Metaplanet’s share value.
On July 22, Metaplanet announced the completion of its Bitcoin acquisition plan, with a final purchase of 20.38 BTC valued at approximately $1.2 million (200 million yen). This news caused an immediate surge in Metaplanet’s stock price, with shares rising by 19.31% to 173 yen ($1.10) within hours of the announcement.
Metaplanet aims to foster greater confidence among its stakeholders and set a precedent for transparency in the cryptocurrency industry by enabling real-time verification of its Bitcoin holdings. This move is expected to encourage higher standards of trust and accountability in corporate Bitcoin holdings.
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