Metaplanet, a Japanese investment advisory firm that adopted Bitcoin as a reserve asset earlier this year, has tapped SBI VC Trade to provide custody services. SBI VC Trade, a cryptocurrency exchange under Tokyo-based SBI Holdings, is offering the possibility of using Bitcoin as collateral for fundraising, Metaplanet announced on Monday. In May, Metaplanet said it was adopting Bitcoin as a reserve asset to hedge against fluctuations in the yen. As of Aug. 20, the firm held 360.4 BTC ($21 million). The reserve asset strategy mimics that of software development firm MicroStrategy, which has been buying Bitcoin since 2020 and currently holds more than 226,000 BTC, more than 1% of all Bitcoin in existence in the future.
