Metaplanet Stock Soars 21% After Major Bitcoin Purchase

Metaplanet Stock ¥1 Billion Bitcoin Strategy, Sees Stock Price Surge

Metaplanet Stock– Japanese investment firm Metaplanet Inc. experienced a significant rise in its stock price, surging 21% during morning trading on Monday. This boost came after the firm disclosed its latest bitcoin purchase.

Latest Bitcoin Acquisition 

The Tokyo-listed company announced it had acquired an additional 20.381 BTC, equivalent to approximately 200 million yen ($1.27 million). This purchase brings Metaplanet’s total bitcoin holdings to 245.992 BTC.

Completion of Acquisition Plan 

With this latest acquisition, Metaplanet has completed its initial plan to purchase 1 billion yen worth of bitcoin, as announced on June 24. This strategic move underscores the firm’s commitment to bitcoin as a key part of its investment strategy.

Strategic Treasury Reserve 

Back in May, Metaplanet revealed its decision to adopt bitcoin as a strategic treasury reserve asset. The firm cited sustained economic pressures in Japan, including high government debt levels, prolonged periods of negative real interest rates, and a weak yen, as reasons for this strategic shift.

Regular Bitcoin Acquisitions 

Over the past few months, Metaplanet has made several bitcoin purchases. According to data from Bitcointreasuries.net, the company previously bought bitcoin on April 23, May 10, June 11, July 1, July 8, and July 16.

Average Purchase Price 

The firm reported that the average purchase price of its bitcoin holdings was 9.96 million yen (about $63,250) per bitcoin. This strategic investment approach highlights Metaplanet’s confidence in the long-term value of bitcoin.

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