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Metaplanet Stock Soars on Bold Bitcoin Move
Metaplanet Stock– Japanese investment firm Metaplanet saw its stock price climb sharply following its announcement to significantly ramp up Bitcoin acquisitions. On June 9, the company’s shares (3350T) rose over 12%, reaching 1,505 yen ($10.42), according to Google Finance. At its highest point during the session, the stock touched 1,641 yen ($11.36) — a 22% spike.
Aiming for 210,000 BTC by 2027
In a bold move, Metaplanet updated its Bitcoin strategy, revealing plans to accumulate 210,000 BTC by 2027, as detailed in its June 6 stock acquisition rights program. This target is ten times higher than its earlier goal of 21,000 BTC. According to Bitbo data, if achieved, Metaplanet would become the second-largest corporate holder of Bitcoin, behind Michael Saylor’s company, Strategy.
As of now, Metaplanet holds 8,888 BTC, following its recent purchase of 1,088 BTC on June 2. Initially, the company launched its crypto strategy on July 22, 2024, causing a 19% stock jump at the time. Since then, its stock has surged more than 1,744%.
Corporate Bitcoin Trend Grows
More public companies are joining the trend of holding Bitcoin on their balance sheets. Standard Chartered reported on June 3 that 61 listed firms now own 3.2% of all Bitcoin that will ever exist. Recent entrants include South Korea’s K Wave Media and Paris-based Blockchain Group, which saw a 225% stock increase after its BTC move.
Not All See Gains
While many companies have enjoyed stock surges post-Bitcoin announcements, results have varied. For instance, K33 of Norway reported a 1.96% drop after its crypto plan. Similarly, GameStop saw a 12% rise after revealing its BTC purchase plan in March, only to fall 11% in May following its actual buy.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
