Home » “Japanese MicroStrategy” Buys More Bitcoin, Stock Surges

“Japanese MicroStrategy” Buys More Bitcoin, Stock Surges

16.07.2024 14:00 1 min. read Alexander Stefanov
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“Japanese MicroStrategy” Buys More Bitcoin, Stock Surges

Japan’s Metaplanet has purchased an additional 21.88 BTC for around $1.26 million, bringing their total holdings to over 225 BTC, worth approximately $14.55 million.

This purchase follows a consistent strategy of weekly Bitcoin investments over the past two months, similar to MicroStrategy’s approach. The company has financed these acquisitions through bond sales.

This latest investment news boosted Metaplanet’s stock by 25.81%, with shares now at 117 JPY. Since the beginning of the year, the stock has risen by more than 631%, driven by its aggressive Bitcoin strategy.

Metaplanet’s market cap stands at 17.5 billion JPY, with Bitcoin making up a growing portion of its assets, currently valued at 2.25 billion JPY.

Bitcoin itself has seen a strong recovery, rising 13.3% in the past week to nearly $65,000.

This rebound is partly due to increased institutional interest and significant inflows into spot Bitcoin ETFs, as well as a boost in global liquidity.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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