‘Asia’s Metaplanet’ Acquires ¥200 Million Worth of Bitcoin, Shares Surge 13%
Metaplanet, often referred to as Asia’s MicroStrategy, experienced a 13% increase in its shares after announcing the purchase of 20.381 Bitcoin (BTC), valued at ¥200 million (approximately $1.4 million). This follows last week’s acquisition of ¥200 million in Bitcoin, making it the company’s fourth purchase this month. With almost 246 BTC in its holdings, estimated at $16.7 million, Metaplanet has been strategically accumulating Bitcoin since April, aiming to enhance shareholder value. This Bitcoin-focused approach aligns with the strategy adopted by major firms like MicroStrategy. Notably, as of July 21, MicroStrategy was holding 226,331 BTC, valued at $14.6 billion, according to BitcoinTreasuries.net.