Japanese version of micro-strategy Metaplanet spends another 200 million yen to buy Bitcoin! The stock price soared more than 28% in two hours

This site (120bTC.coM): Metaplanet, known as the Japanese version of micro-strategy, disclosed in a document this morning that as part of its Bitcoin investment strategy, the company has added another 200 million yen (about 120 million) purchased 21.88 Bitcoins, making Metaplanet the 21st largest listed corporate entity in the world holding Bitcoins.

Metaplanet spent another 200 million yen to buy Bitcoin, with an average price of US$62,800

Metaplanet’s latest purchase statement pointed out that when Bitcoin once rebounded to nearly US$65,000 this morning, the company purchased 21.88 Bitcoins, worth approximately $1.2 million.

According to Coingecko’s data, this purchase will bring its total Bitcoin holdings to 225.6, with a total value of approximately US$14.6 million: At the same time, Metaplanet has also become the 21st largest Bitcoin holder in the world. Corporate entity.

The document states that the company’s average Bitcoin purchase price is approximately 9.973 million yen (approximately $62,870). In other words, its current return rate is still only about 3%.

Last week, Metaplanet just purchased 42.46 Bitcoins at an average price of $59,380 during the market decline on July 7, worth 400 million yen (approximately $2.53 million).

The stock price of 3350.T soared by 28%

As soon as the news came out, Metaplanet’s stock price (3350.T) rose by 22% in the first 30 minutes on the Tokyo Stock Exchange, and has soared since the closing price of 93 yen on the 12th. rose to 120 yen. As of the time of writing, there is still an astonishing increase of 28% in more than two hours.

It is reported that Metaplanet’s stock price has soared nearly six times since the company announced its Bitcoin investment strategy on April 8, 2024.

Metaplanet talks about Bitcoin investment strategy: In order to hedge against the long-term weak Japanese yen

Due to the adoption of the Bitcoin investment strategy of Michael Saylor, CEO of software company MicroStrategy, Metaplanet is often likened to "Asian Microstrategy". The company is also not shy about discussing its views: the move is a direct response to Japan's economic pressure and long-term negative interest rates, and it is also a hedge against Japan's worsening debt burden and the rapidly depreciating yen.

It is reported that the Japanese yen has fallen by nearly 36% against the US dollar since January 2021, while Bitcoin against the Japanese yen has risen by more than 143% in the past year.

Last month, Metaplanet announced that it would use its second issuance of general corporate bonds worth 1 billion yen ($6.26 million) to purchase Bitcoin.

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