“Japanese MicroStrategy” Buys More Bitcoin, Stock Surges

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Cryptodnes2024/07/16 12:19

By:Cryptodnes

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.

Ethereum Set to Outshine Bitcoin Post Spot ETF Launch, Predicts Kaiko

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.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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