Metaplanet is positioned as a "key player in promoting BTC adoption in Japan."
Source: ambcrypto
Compiled by: Blockchain Knight
BTC’s post-U.S. presidential election rebound, with prices approaching $100,000, has had many positive effects on companies related to Crypto assets.
Metaplanet was one of the beneficiaries, and its share price also reflected the market's bullish sentiment.
In addition to the ongoing BTC accumulation strategy, Metaplanet has taken an important step: partnering with Bitcoin Magazine to launch Bitcoin Magazine Japan.
This initiative can be traced back to the memorandum of understanding signed in July 2024, positioning Metaplanet as a 'key player in promoting BTC applications in Japan.'
Metaplanet CEO Simon Gerovich made the same comments on X: 'As the world's leading BTC media brand, we strive to promote BTC adoption, education, and innovation through our operations in Japan, benefiting millions of individuals and organizations across the country.'
Metaplanet further emphasized this issue in a statement: 'Through (BTC Japan Magazine), Metaplanet hopes to become the authoritative spokesperson for BTC in Japan.'
Currently, Metaplanet has strengthened its BTC acquisition strategy, mirroring MicroStrategy's bold approach.
MicroStrategy recently increased its holdings by 124.11 BTC, bringing its total to approximately 1142.287 BTC.
To advance its accumulation efforts, Metaplanet strategically diluted its outstanding shares and announced plans to issue $11.3 million in bonds.
Following this, Metaplanet's stock price experienced a significant surge. Since adopting its BTC-centric strategy, its stock price has soared nearly tenfold.
Therefore, as BTC prices are expected to rise further in the coming months, Metaplanet's stock seems fully capable of benefiting from this bullish momentum.
However, according to Google Finance data, the company's stock price has slightly declined so far, with a decrease of 2.58%.
However, this minor setback does not overshadow the significant gains the company has achieved with its crypto asset-focused strategy.
Bloomberg noted in a recent article: 'Japan's hottest stock is a company with a 139-year history, which has surged 430% this year.'
Thus, Metaplanet, regarded as the 'Asian MicroStrategy,' has gained fame for its aggressive BTC strategy.
An X user used a very fitting metaphor: 'This company will follow in MicroStrategy's footsteps to become Japan's 'Titan' (the giant in Greek mythology).'
