Metaplanet Boosts Bitcoin Holdings
Japanese investment firm Metaplanet increased its bitcoin holdings by acquiring 124.1 BTC for $11.3 million. The purchase raises its total to 1,142.2 BTC, valued at $104.8 million. This announcement sent its stock soaring 15.1%, with trading turnover reaching $141.7 million.Strategic Adoption of Bitcoin
Metaplanet adopted bitcoin as a strategic reserve asset in May 2024. The company reported a 186.9% yield from its bitcoin holdings between October and November. It recently issued $11.3 million in one-year bonds to fund further bitcoin purchases, reflecting its long-term bullish view on the asset.Year-to-Date Stock Success
Metaplanet’s stock has risen an impressive 1,334% year-to-date, far exceeding Japan’s Nikkei 225 index. This growth parallels the success of companies like MicroStrategy, highlighting a growing investor appetite for bitcoin-focused corporate strategies. Metaplanet’s moves position it as a leader in Japan’s burgeoning bitcoin economy.
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