Japanese Investment Firm Sees Massive Jump After Embracing Bitcoin

Recently, attention has been focused on Japan, a country that is slowly accepting Bitcoin and other digital assets. A few days ago, Metaplanet’s stock price surged, rising by more than 150% in just one week.

Surprisingly, the staggering gain caused trading to be suspended for two days. Due to this gain, Metaplanet is now the biggest gainer among all Japanese stocks.

Metaplanet captured Investor attention And developed an ambitious strategy to accumulate Bitcoin.

This move mimics MicroStrategy’s approach. That’s why some The company is called “MicroStrategy Japan.” MicroStrategy is known as the world’s largest holder of Bitcoin.

Metaplanet, on the other hand, has already begun its journey to increase the amount of Bitcoin it holds over time. Metaplanet announced a bold move on Monday to boost its Bitcoin accumulation strategy. The company plans to increase the number of authorized shares by 300%.

This move is consistent with the strategy MicroStrategy has adopted many times before. By issuing new shares and generating capital through these sales, Metaplanet aims to use the proceeds to purchase more Bitcoin.

This strategy turns Metaplanet into a BTC ETF for Japanese investors, but without the usual fees. According to its Official websiteit plans to build a “Web2 and Web3” environment to connect Japan with the rest of the world.

Interestingly, the company’s stock price has surged, climbing from 45 yen on Monday to 93 yen. The increase was as high as 127%. In addition, Metaplanet’s market value also reached US$1 billion.

Metaplanet violated TSE rules for two consecutive days, which typically limit daily price increases to a maximum of 30 yen for stocks trading below 100 yen. However, Metaplanet’s share price rose above that threshold on both days.

Since April 8, Metaplanet Share their plans Investing in Bitcoin, he quickly gathered 117.7 BTC. Use its current price 67,384the BTC it holds is worth up to $7.9 million.

Just like in the case of MicroStrategy in August 2020, Metaplanet’s stock price soared a staggering 389% following the announcement. On May 13, Metaplanet said it hopes to use different monetary tools to acquire more Bitcoin, similar to what MicroStrategy is doing.

company claim Japan is entering the cryptocurrency space due to its severe debt problems and the rapid depreciation of the yen. Currently, Metaplanet’s shares are only listed on the Tokyo Stock Exchange, which means U.S. investors can’t easily buy them.

However, the company plans to convert its shares into digital tokens so that more people can invest. Arnab Naskar of STOKR wants to convert Metaplanet shares into tokens on the Bitcoin network. Notably, the company also launched a similar token for MicroStrategy.

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