Japanese micro-strategy Metaplanet has hit the daily limit for the 2nd consecutive day! After introducing the Bitcoin strategy, it once rose 6 times

This site (120bTC.coM): After the Japanese company Metaplanet announced in April that it would follow MicroStrategy’s Bitcoin strategy, its stock price rose more than three times in recent days. The Tokyo Stock Exchange The exchange has suspended trading twice, and CEO Simon Gerovich recently said that buying large amounts of Bitcoin is just the beginning.

Sora Ventures joins Metaplanet to build "Asian micro-strategy"

According to previous reports, Metaplanet is a multi-business company that started as a hotel (including Web3 consulting business) and was listed on Tokyo Securities in 2004. Exchange (TSE) has not performed very well in the past few years. The Japanese market evaluates it as a company that is seeking to rebuild its business and invest in the Metaverse and Web3.

After multiple capital institutions and individuals such as Sora Ventures and 210k Capital took shares, Metaplanet decided to start buying Bitcoin and will generate income by holding Bitcoin.

Reasons to invest in Bitcoin include:

• Hedging against Japan’s worsening debt and the rapidly depreciating yen.

• Bitcoin has proven to be a solid long-term investment over the past decade.

• Demonstrates Metaplanet’s commitment to utilizing the latest financial technology for effective financial management.

Metaplanet has held 117.7 BTC

Since announcing its Bitcoin investment strategy on April 8, Metaplanet has held 117.7 Bitcoins, currently worth 8.2 million Dollar.

Bitcoin Treasuries data shows that Metaplanet bought Bitcoin on 4/23 and 5/10 respectively, at a cost of less than 66K, and the current floating profit is about US$510,000.

Metaplanet’s stock price has hit the limit for two consecutive days

Metaplanet’s stock price was only 19 yen before the announcement of the Bitcoin strategy (4/8), and it was as low as 19 yen on May 23 It rose to 120 yen (556%). Although it closed at 76 yen, it still has an astonishing increase of 322% so far.

According to the specifications of the Tokyo Stock Exchange, the highest single-day increase in stocks with a stock price below 100 yen is 30 yen. The surge in stock prices caused the Tokyo Stock Exchange to suspend trading of Metaplanet at least twice last week, and its market value has also Nearly 800 million US dollars (12.351 billion yen).

Metaplanet CEO Simon Gerovich said on May 15 that buying large amounts of Bitcoin was just the beginning and that he was exploring opportunities to generate additional income within the Bitcoin ecosystem.

Dylan Le Clair, the company’s director of Bitcoin strategy, also talked about Metaplanet’s recent hot performance, having become Japan’s best-performing stock for two consecutive days.

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