Metaplanet Shares Up 20% As Company Buys Another 20 BTC
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Metaplanet’s shares surged over 20% on the Tokyo Stock Exchange following the company’s latest acquisition of Bitcoin.Japanese investment firm Metaplanet spent over $1.2 million to buy another group of Bitcoin (BTC) as it continues to double down on its long-term holding strategy amid sustained economic pressures in Japan.*Metaplanet purchases additional 20.38 $BTC* pic.twitter.com/xt1AjSWPNL— Metaplanet Inc. (@Metaplanet_JP) July 22, 2024In an X post on Monday, the Tokyo-listed investment adviser said it had acquired 20.38 BTC for ¥200 million (around $1.2 million), bringing its total Bitcoin reserves to 245.992 BTC (over $16.6 million at current market prices). Metaplanet shares | Source: GoogleYou might also like: LBank in hot water for breaking Japan’s financial rulesAmid the news, Metaplanet’s shares on the Tokyo Stock Exchange soared in a moment by over 20% to $1.1, according to data from Google Finance. The purchases follow Metaplanet’s recent allocation of over $6.2 million for Bitcoin through the issuance of a second series of ordinary bonds issued via EVO FUND, which feature an annual interest rate of 0.5% and are s
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