Despite the broad market weakness caused by the repeated price corrections seen across the crypto market, Simon Gerovich, the CEO of Metaplanet, is still confident about institutional long-term conviction in Bitcoin regardless of the current market conditions.
On Saturday, Feb. 28, Gerovich declared that the “era of Bitcoin treasuries is quietly spreading,” following the buzzing news of a Japanese public company that is preparing to add Bitcoin to its balance sheet.
Japanese firm hops on Bitcoin treasury
The news not only stirred reactions from Gerovich, it also sparked optimism among Bitcoin holders as it revealed that Daido Limited, a 147-year-old publicly listed firm founded in 1879, has disclosed plans to purchase Bitcoin as part of its treasury strategy.
With Daido Limited now joining the list of Bitcoin bandwagons, the move marks a major integration of Japan’s long-established corporations into the crypto space.
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While the move is bullish for Bitcoin, the Metaplanet CEO described it as part of a broader, accelerating trend involving the institutional adoption of Bitcoin.
Over the past year, Japanese companies have shown rising interest in Bitcoin treasury models as publicly traded firms like Metaplanet itself hold Bitcoin as a major asset for reserve.
Daido eyes ¥1 billion Bitcoin accumulation
Nonetheless, Daido further revealed that it is planning to acquire up to ¥1 billion worth of Bitcoin, positioning the asset as “digital gold” to hedge against inflation and potential depreciation of the Japanese yen.
The firm’s decision was triggered by growing concern among corporations about macroeconomic pressures and long-term currency risk.
While Daido Limited had previously made headlines in 2024 after announcing a 50-fold increase in dividends, its decision to venture into Bitcoin suggests that digital assets are increasingly being viewed as a strategic reserve option, even among traditional firms with deep historical roots like Daido.