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Metaplanet acquires ¥200 million worth of Bitcoin, shares jump 13%

Metaplanet acquires ¥200 million worth of Bitcoin, shares jump 13%

Metaplanet's strategy mirrors major firms with Bitcoin as a key asset.

by Vivian Nguyen

1 min read

In Bitcoin

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Metaplanet, a company listed on the Tokyo Stock Exchange and often compared to MicroStrategy, saw its shares increase by 13% following its announcement of acquiring 20.381 Bitcoin (BTC), valued at 200 million yen (approximately $1.4 million).

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Metaplanet’s shares jump after its new Bitcoin purchase – Source: Google Finance

Metaplanet announced the acquisition on Monday, following a previous purchase last week of ¥200 million in Bitcoin. This is the company’s fourth Bitcoin acquisition in July, bringing the total number of Bitcoins held to almost 246 BTC, estimated at $16.7 million.

Since April, Metaplanet has strategically increased its Bitcoin reserves, positioning it as the main asset in its treasury to enhance shareholder value. Its Bitcoin-focused strategy mirrors major firms like MicroStrategy.

According to data from BitcoinTreasuries.net, as of July 21, MicroStrategy holds 226,331 BTC, worth $14,6 billion, while global public companies hold a total of 324,445 BTC.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

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