Metaplanet, a Japanese public-listed company, has purchased 124 Bitcoins for an investment value of 1.75 billion Japanese Yen. This has increased the company’s Bitcoin holdings to over 1,100 BTC, resulting in a 15% increase in stock price. Metaplanet has been following MicroStrategy’s Bitcoin adoption strategy and recently purchased an additional 124.117 BTC for 1.75 billion yen, increasing its total Bitcoin holdings to 1,142.287 BTC.
This strategic acquisition has increased the company’s QTD Bitcoin yield by 186.9%. In a related development, MicroStrategy purchased 51,780 BTC for over $4 billion. Following these announcements, Metaplanet’s stock price surged more than 14% and is expected to rise further. The adoption of Bitcoin by major institutions has been growing, and this trend is expected to continue as more companies follow suit.
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<p>The post Metaplanet Surges 15% After Acquiring 124 Bitcoins Worth 1.75 Billion first appeared on CoinBuzzFeed.</p>
