Key Takeaways:
- Metaplanet’s stock has surged 480% since announcing its Bitcoin investment strategy, with a $53.2 million allocation to 855 Bitcoin.
- The company’s Bitcoin holdings increased 5.4% in value after four purchases in October, including recent buys of 109 BTC and 108.8 BTC.
- Metaplanet is the 23rd largest Bitcoin holder among public companies, mirroring MicroStrategy’s investment strategy.
Metaplanet’s stock has surged by 480% since revealing its Bitcoin investment strategy in April.
The company has spent approximately $53.2 million on 855 Bitcoin, seeing a 5.4% gain in its Bitcoin investment value.
📈 Shares in Japan's Metaplanet surged 15.7% on Oct. 15 after the firm bought nearly 107 $BTC for $6.7M, bringing its total to 855.5 BTC, now worth $56.1M.
— Satoshi Club (@esatoshiclub) October 15, 2024
Metaplanet's share price has soared 480% since April due to its #Bitcoin investment strategy. pic.twitter.com/Rv1UpVQKc2
In October, Metaplanet made several Bitcoin purchases, acquiring 109 BTC on October 11 and 108.8 BTC on October 7.
Earlier in the month, it bought 132 Bitcoin in two separate transactions on October 1 and 3.
The price of Bitcoin also saw a significant rise, increasing over 9% to $65,500 during this period.
JUST IN: Japanese company @Metaplanet_JP stays humble and keeps stacking sats. They have purchased an additional 106.9 #BTC for ¥1 billion
— Simply Bitcoin (@SimplyBitcoinTV) October 15, 2024
As of October 15th, Metaplanet now holds 855.5 #BTC worth ¥8 billion, and the stock is up 16% today pic.twitter.com/iye3h0xZWC
Metaplanet’s strategy mirrors that of MicroStrategy, whose executive chairman Michael Saylor has led his company to amass over 252,000 Bitcoin.
To further expand its Bitcoin holdings, Metaplanet secured a $6.8 million loan in August.
The company is now ranked as the 23rd largest Bitcoin holder among publicly traded firms.
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