Tokyo’s public-traded company, Metaplanet, has recorded a very successful year in 2024 as its stock price rocketed by over 2,000% year-to-date.
Interestingly, this progress was made possible because of its aggressive Bitcoin acquisition strategy. Metaplanet turned its attention to Bitcoin this year, taking a page from America’s business intelligence firm, Microstrategy, positioning as one of the world’s largest corporate Bitcoin holders.
Metaplanet Sees Best Year in Seven Years
In a Dec 31 post on X, Metaplanet disclosed that its stock price jumped by exactly 2,629%, cementing its position as the number 1 company with the highest return in Japan.
According to data from Google Finance, Metaplanet (3350) jumped from a yearly low of ¥160 to a peak of ¥4,080. However, at the time of writing, the stock price now trades at ¥3,480.
Metaplanet stock price | Source: Google Finance
Moreover, Metaplanet’s report showed that its company positioned as the #1 with market cap growth in Japan with ¥126.21 billion (worth $808.4 million).
With its strategic Bitcoin purchase, Metaplanet now holds 1,761 BTC, valued at $165.9 million, making it the 15th-largest corporate Bitcoin holder globally and the first in Japan.
Interestingly, Metaplanet closes 2024 as the most profitable year since 2017, from a total revenue of ¥270 million in that year to ¥890 million as of December 31.
Notably, its trading volume also surged 388x year over year as a result of increasing demand from over 50,000 shareholders.
These metrics underscores the visible impact of Bitcoin investments on corporate firms. It is worthy to mention that Microstrategy‘s stock is up 342% year to date, currently trading at #302.96.
Institutional Investors Fuels Bitcoin Momentum
In 2024, Bitcoin’s demand by institutional investors played a major role in the coins trajectory. Following the approval of a spot Bitcoin ETF in January, the flagship cryptocurrency began its journey to new highs.
Corporate entities and whale investors played their part with massive Bitcoin accumulations, triggering a wave of bullish sentiment in the market.
These events, coupled with the market-favorable outcome of the November elections, Bitcoin rose to its all-time high of $108,000, achieved on December 17. Experts have already predicted a possible surge to $200k in 2025 as the new Trump administration takes over.
Ultimately, 2024 would go down in history books as the year of “Bitcoin in suit and tie.”
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