‘Asia’s MicroStrategy’ Metaplanet buys another ¥200 million worth of Bitcoin, shares jump 13% -

‘Asia’s MicroStrategy’ Metaplanet buys another ¥200 million worth of Bitcoin, shares jump 13%

Jul 21, 2024Jeremy ParkinsonCryptocurrency, No picture0

Key Takeaways

Metaplanet’s share price increased by 13% following its new Bitcoin acquisition.
The company’s total Bitcoin holdings now exceed 245 BTC, valued at around $16.7 million.

Metaplanet, a company listed on the Tokyo Stock Exchange and often compared to MicroStrategy, saw its shares increase by 13% following its announcement of acquiring 20.381 Bitcoin (BTC), valued at 200 million yen (approximately $1.4 million).

Metaplanet’s shares jump after its new Bitcoin purchase – Source: Google Finance

Metaplanet announced the acquisition on Monday, following a previous purchase last week of ¥200 million in Bitcoin. This is the company’s fourth Bitcoin acquisition in July, bringing the total number of Bitcoins held to almost 246 BTC, estimated at $16.7 million.

Since April, Metaplanet has strategically increased its Bitcoin reserves, positioning it as the main asset in its treasury to enhance shareholder value. Its Bitcoin-focused strategy mirrors major firms like MicroStrategy.According to data from BitcoinTreasuries.net, as of July 21, MicroStrategy holds 226,331 BTC, worth $14,6 billion, while global public companies hold a total of 324,445 BTC.