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Metaplanet Shares Soar as Japanese Firm Mimics MicroStrategy on Bitcoin Buying

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Metaplanet began as Red Planet Japan, a budget hotel operator, before pivoting to become a Web3 developer.

Metaplanet's stock rose 90% after adding $6.56 million in bitcoin to its balance sheet in partnership with Sora Ventures and other crypto investors.

Metaplanet , a Web3 infrastructure provider, saw its Tokyo-listed stock rise almost 90% in two days after saying it was adding $6.56 million in bitcoinThe company, which started as a budget hotel operator under the name Red Planet before becoming a Web3 software developer, said it is looking to minimize its exposure to the Japanese yen.

 

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