‘Asia’s MicroStrategy’ Metaplanet buys another ¥200 million worth of Bitcoin, shares jump 13%

Mila July 22, 2024

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Key Takeaways

Metaplanet’s share price increased by 13% following its new Bitcoin acquisition.
The company’s total Bitcoin holdings now exceed 245 BTC, valued at around $16.7 million.

Metaplanet, a company listed on the Tokyo Stock Exchange and often compared to MicroStrategy, saw its shares increase by 13% following its announcement of acquiring 20.381 Bitcoin (BTC), valued at 200 million yen (approximately $1.4 million).

‘Asia’s MicroStrategy’ Metaplanet buys another ¥200 million worth of Bitcoin, shares jump 13% — Metaplanet’s shares jump after its new Bitcoin purchase

The company announced the acquisition on Monday, following a previous purchase last week of ¥200 million in Bitcoin. The latest purchase brings the company’s total Bitcoin holdings to almost 246 BTC, with an estimated worth of $16.7 million.

Since April, Metaplanet has strategically increased its Bitcoin reserves, positioning it as the main asset in its treasury to enhance shareholder value. Its Bitcoin-focused strategy mirrors major firms like MicroStrategy.

According to data from BitcoinTreasuries.net, as of July 21, MicroStrategy holds 226,331 BTC, worth $14,6 billion, while global public companies hold a total of 324,445 BTC.