Tokyo-listed Metaplanet Inc. saw shares rise 9.88% after purchasing an additional $1.58M worth of Bitcoin, totaling 141.07 $BTC
Metaplanet's stock surged from 19 yen to 89 yen since adopting #Bitcoin as its strategic reserve.
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Investors appeared to like the move, with #metaplanet stock rallying 10.8% to $0.59 (92 Japanese yen) before cooling off to $0.57 (89 Japanese yen) at midday on the Tokyo Stock Exchange on June 11, according to Google Finance.

The firm has seen its stock soar nearly fivefold since it unveiled its Bitcoin investment strategy on April 9, 2024.

Its first Bitcoin purchase came on April 23 at 97.85 Bitcoin, followed by an additional 19.87 Bitcoin on May 10, according to Bitcoin Treasuries. It is now the 30th largest corporate holder of Bitcoin in the world.

Similar to MicroStrategy — the largest corporate Bitcoin shareholder — Metaplanet iterated on May 13 that it’ll adopt an “entire range of capital market instruments” to bolster its Bitcoin reserves.

The firm adopted the strategy to hedge against Japan’s worsening debt burden and the fastly-depreciating Japanese yen.

Japan’s debt-to-GDP ratio of 261% is the worst among developed countries, Metaplanet said.

The Japanese yen has fallen almost 35% against the United States dollar since January 2021, while Bitcoin is up nearly 200% against the Japanese yen over the last 12 months.
However, it’s still far below the Bitcoin holdings of the Michael Saylor-run firm, which holds 214,400 Bitcoin — amounting to 1.02% of the roughly 21 million Bitcoin that will ever enter into circulation.

Metaplanet is currently only available on the Tokyo Stock Exchange, walling out access to U.S. investors but efforts are being made to change that.

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Metaplanet Invests $1.6M in Bitcoin, Acquiring 23.35 BTC
Metaplanet’s additional Bitcoin purchase reflects a broader trend of corporate adoption of digital assets for investment strategies. As institutional interest in cryptocurrencies grows, more firms explore integrating digital assets into portfolios amid regulatory clarity. Corporations like Metaplanet diversify with Bitcoin, safeguarding wealth and positioning for crypto market growth. Beyond its investment implications, Metaplanet’s acquisition of Bitcoin underscores the growing mainstream acceptance of cryptocurrencies as legitimate financial instruments. As more established companies embrace digital assets, the perceived risk associated with investing in Bitcoin diminishes, paving the way for broader adoption and integration into traditional financial systems.This shift in perception bodes well for the long-term viability and resilience of cryptocurrencies, further solidifying their role as a viable alternative to traditional forms of money and investment.
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