Metaplanet Inc. Accomplishes Bitcoin Transparency
This is the translation of the news column
Metapla has increased the transparency of BTC holdings. And the stock price increased 27%.
Since April, Metaplanet has been accumulating bitcoins after announcing a decision to incorporate BTC into financial assets.
As a show of commitment to financial accountability, Metaplanet has partnered with Hoseki, a global leader in Bitcoin verification solutions. The new partnership mainly focuses on allowing users to confirm the company's Bitcoin holdings at any point in time.
The collaboration, shared through Tuesday's X announcement, is part of Metaplanet's effort to help observers get familiar with true Bitcoin holdings using Hoseki Verified.
Metaplanet Hoseki partnership brings trust to the crypto community
With the latest move, Metaplanet is trying to cultivate trust and set standards of transparency even as Bitcoin continues to penetrate every sector of the world. An excerpt from the presentation reads:
“Our partnership with Hoseki is consistent with Bitcoin's 'Don't Trust, Verify' ethos and will pioneer transparency in a world where money exists in a transparent and auditable global ledger.”
According to the company, the initiative is something they hope will set a precedent for the entire industry. We hope it will become the new corporate standard for Bitcoin transparency and bring greater trust to the crypto community.
Hoski is mixed as the leading Bitcoin infrastructure provider. Therefore, Metaplanet wants to utilize verified products for independent verification of Bitcoin reserves.
The need for verification
Since April, Metaplanet has been accumulating bitcoins after announcing a decision to incorporate BTC into financial assets. At the time, I quoted that decision as bordering on several factors, such as the yen's continued depreciation and a generally unfavorable economy.
In June, Metaplanet shared further plans to expand its Bitcoin holdings with an investment of 6 million dollars. The company pointed out that the funds for that much of the investment will come from recent bond sales. With so much news and reportage about ongoing Bitcoin acquisitions, it's understandable why Metaplanet is seeking transparency.
By providing stakeholders with irrefutable proof of Bitcoin ownership, Metaplanet sets the bar extremely high. So much so that other business groups, such as itself, may follow in its footsteps. Looking at it from a broader perspective, investors and regulators alike are expected to have more confidence in the crypto industry. In other words, as more companies adopt similar measures, more companies will adopt similar measures.
The move is likely to be closely monitored by market participants as it could impact the wider adoption of verification practices within the cryptocurrency ecosystem.
As a show of commitment to financial accountability, Metaplanet has partnered with Hoseki, a global leader in Bitcoin verification solutions. The new partnership mainly focuses on allowing users to confirm the company's Bitcoin holdings at any point in time.
The collaboration, shared through Tuesday's X announcement, is part of Metaplanet's effort to help observers get familiar with true Bitcoin holdings using Hoseki Verified.
Metaplanet Hoseki partnership brings trust to the crypto community
With the latest move, Metaplanet is trying to cultivate trust and set standards of transparency even as Bitcoin continues to penetrate every sector of the world. An excerpt from the presentation reads:
“Our partnership with Hoseki is consistent with Bitcoin's 'Don't Trust, Verify' ethos and will pioneer transparency in a world where money exists in a transparent and auditable global ledger.”
According to the company, the initiative is something they hope will set a precedent for the entire industry. We hope it will become the new corporate standard for Bitcoin transparency and bring greater trust to the crypto community.
Hoski is mixed as the leading Bitcoin infrastructure provider. Therefore, Metaplanet wants to utilize verified products for independent verification of Bitcoin reserves.
The need for verification
Since April, Metaplanet has been accumulating bitcoins after announcing a decision to incorporate BTC into financial assets. At the time, I quoted that decision as bordering on several factors, such as the yen's continued depreciation and a generally unfavorable economy.
In June, Metaplanet shared further plans to expand its Bitcoin holdings with an investment of 6 million dollars. The company pointed out that the funds for that much of the investment will come from recent bond sales. With so much news and reportage about ongoing Bitcoin acquisitions, it's understandable why Metaplanet is seeking transparency.
By providing stakeholders with irrefutable proof of Bitcoin ownership, Metaplanet sets the bar extremely high. So much so that other business groups, such as itself, may follow in its footsteps. Looking at it from a broader perspective, investors and regulators alike are expected to have more confidence in the crypto industry. In other words, as more companies adopt similar measures, more companies will adopt similar measures.
The move is likely to be closely monitored by market participants as it could impact the wider adoption of verification practices within the cryptocurrency ecosystem.
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