Japan’s Metaplanet Stock Skyrockets 158% After Adopting Bitcoin Strategy

Metaplanet, a firm in Japan known as “Japan’s MicroStrategy” on Crypto Twitter, has seen its shares surge 158% over the last week.

Metaplanet share price is at 93 Japanese yen, up from 41 at Monday’s close, rising 127%. The stock is currently about to hit the $1 billion market cap. Metaplanet has been halted at a max daily gain of +¥30 , and for the second day in a row, is the best performing stock in Japan. 🇯🇵The strategy, previously employed several times by MicroStrategy, enables the company to generate funds through new share sales. The capital raised will be used to purchase additional Bitcoin, effectively transforming Metaplanet into a de facto Bitcoin ETF for Japanese investors, but without any associated fees.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Asia's MicroStrategy' Metaplanet Buys ¥1 Billion Worth of Bitcoin as PledgedJapanese public company Metaplanet has announced the purchase of ¥1 billion ($6.25 million) worth of Bitcoin, adopting Bitcoin as a treasury reserve asset.
Source: BitcoinMagazine - 🏆 461. / 53 Read more »

'Asia's MicroStrategy' Metaplanet Tops up Bitcoin Portfolio in Latest PurchaseJapan's Metaplanet tops up Bitcoin portfolio in latest purchase
Source: Utoday_en - 🏆 295. / 63 Read more »

Japan’s Metaplanet adopts bitcoin as reserve asset amid yen slumpThe Tokyo-listed company has adopted bitcoin as its treasury reserve asset in response to mounting government debts and weakening yen.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Metaplanet Makes Bitcoin a Reserve Asset As Japan’s Debt Mountain GrowsOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Source: CoinDesk - 🏆 291. / 63 Read more »