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Recently, attention has been focused on Japan, which is gradually adopting digital assets such as Bitcoin. A few days ago, Metaplanet (Japan MicroStrategy) stock prices rose significantly, increasing by more than 150% in just one week.
Surprisingly, this incredible surge caused trading to be halted for two days. As a result of this increase, Metaplanet is now the biggest gainer among all Japanese stocks.
Metaplanet is Investor attention He has an ambitious strategy to accumulate Bitcoin.
This action mimics the MicroStrategy approach. Therefore, some The company is called the “Japanese version of MicroStrategy.” MicroStrategy is known as the world’s largest Bitcoin holder.
Meanwhile, Metaplanet has begun working to increase the amount of Bitcoin it holds over time. Metaplanet announced a bold move to boost its bitcoin accumulation strategy on Monday: the company plans to increase the number of shares outstanding by 300%.
The move mirrors a tactic MicroStrategy has employed many times before. Metaplanet aims to generate capital through issuing and selling new shares and use the proceeds to purchase additional Bitcoin.
With this strategy, MetaPlanet BTC ETF It is offered to Japanese investors without the usual fees. the Official WebsiteThe company plans to build a “Web2/Web3” environment that connects Japan with the world.
Interestingly, the company’s share price has soared from 45 yen on Monday to 93 yen. A remarkable increase of 127%. Moreover, Metaplanet’s market capitalization has reached $1 billion.
For the second day in a row, Metaplanet has violated Tokyo Stock Exchange rules that limit daily price gains to a maximum of 30 yen for shares that normally trade at less than 100 yen. However, Metaplanet’s share price rally exceeded this threshold on both days.
April 8, Metaplanet Shared the plan I quickly raised 117.7 BTC to invest in Bitcoin. Current price 67,384The company’s BTC holdings are worth a whopping $7.9 million.
As was the case with MicroStrategy in August 2020, Metaplanet’s stock price soared 389% following the news. On May 13, Metaplanet said it wanted to acquire more Bitcoin using a variety of funding tools, similar to MicroStrategy.
company Claimed Japan’s serious debt problems and the sharp decline in the value of the yen have led to people turning to cryptocurrencies. Currently, Metaplanet’s shares are traded only on the Tokyo Stock Exchange, making them difficult for American investors to buy.
However, the company plans to convert its shares into digital tokens to allow more people to invest. STOKR’s Arnab Naskar wants to turn Metaplanet shares into a token on the Bitcoin network. Notably, this is the same company that created a similar token for MicroStrategy.
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Editorial Policy is focused on delivering useful, accurate content that is of real value to our readers. We only work with experienced writers who have expertise in the topics we cover, including the latest technology, online privacy, cryptocurrency, and software. Our editorial policy ensures that each topic is researched and edited by our in-house editors. We maintain strict journalistic standards and all articles are 100% Source of this program
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“Recently, attention has been focused on Japan, which is gradually introducing digital assets such as Bitcoin. A few days ago, Metaplanet (Japan MicroStrategy) stock price rose significantly,…”
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Source link: https://techreport.com/crypto-news/japanese-investment-firm-sees-massive-jump-after-embracing-bitcoin/
