The company raised its reserve to more than 855 bitcoin.
Metaplanet invested $6.7 million this Tuesday to buy more BTC.
Metaplanet Inc., listed on the Tokyo Stock Exchange, one of the largest in the world, experienced a significant jump in its shares this Tuesday.
The shares rose 15.7% in a single day, going from $6.40 (955 yen) to $7.37 (about 1,100 yen). This increase occurred after the announcement of the purchase of 106.97 bitcoin (BTC), spending 1 billion yenequivalent to about 6.7 million dollars.
With this acquisition, Metaplanet, which earns the nickname “Japanese MicroStrategy”, now accumulates 855.47 bitcoin, valued at more than $55 million at the close of this article, taking into account that the price of BTC has increased 5.96% in the last week.
Since April of this year, Metaplanet has invested just over $56.4 million in bitcoin, starting with an initial purchase of 97.8 BTCas CriptoNoticias has been reporting.
Metaplanet Inc., a company with more than a decade of operations in various sectors in Japan, has pivoted its strategy towards bitcoin, using it as the main treasury reserve asset. This maneuver seeks to enhance value for its shareholdersreflecting a notable reorientation of its financial approach.
The strategy of adopting bitcoin as a store of value has led Metaplanet to be dubbed the “Japanese MicroStrategy” by CriptoNoticias, in reference to the technology company MicroStrategy, led by Michael Saylor.
MicroStrategy became a pioneer by converting its treasury to bitcoin, a tactic that included issuing bonds to acquire more coins. Michael Saylor, co-founder and CEO of MicroStrategy, has been a fervent advocate of this strategy, arguing that bitcoin is a store of value superior to gold.
Metaplanet’s adoption of this strategy is not isolated. Companies such as the German Samara Asset Group have followed similar steps, announcing rounds of bonuses to increase their bitcoin reserve, as reported by CriptoNoticias.
This corporate move towards BTC not only reflects growing confidence in the digital currency, but also makes clear that a shift is underway in how companies view their treasury strategies and asset management.
This article was created using artificial intelligence and edited by a human Editor.
