On August 20, Metaplanet Inc., often referred to as 'Japan’s MicroStrategy,' announced a major acquisition of 57.273 BTC, leading to a 13% increase in its stock price.
Major BTC Acquisition
Metaplanet Inc. announced a major acquisition of 57.273 BTC, worth approximately 500 million Japanese yen ($3.39 million). This purchase was made at an average price of ¥8,730,117 ($59,317) per Bitcoin.
Strategic Investment Model
Simon Gerovich, CEO of Metaplanet, revealed that the firm’s total Bitcoin holdings have now reached 360.368 BTC. This follows a previous purchase of 57.103 BTC on August 13 for 500 million yen ($3.3 million) at an average price of ¥8,756,107 per Bitcoin.
Effects on Shareholders
The company’s shares have risen by 645% year to date due to strategic Bitcoin purchases and leveraging low-interest Japanese loans. The company secured a loan of 1 billion Japanese yen at a remarkably low 0.1% APR.
These strategic moves and Metaplanet's aggressive investment policy have drawn significant investor attention, markedly impacting the company’s stock value.
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