Japanese micro-strategy Metaplanet adds 200 million yen to buy Bitcoin again! Stock price surges over 28% in two hours.

Metaplanet, known for its micro-strategy in the Japanese market, disclosed in a document this morning that as part of its Bitcoin investment strategy, the company has once again purchased 21.88 Bitcoins for 200 million Japanese yen, approximately 1.2 million US dollars, making Metaplanet the 21st largest publicly traded entity holding Bitcoin globally.

Buying BTC with 1 billion Japanese yen, Japanese stock Metaplanet soared nearly 90%! Sora Ventures takes the lead in creating the "Asian micro-strategy."

Metaplanet Splurges 200 Million Yen on Bitcoin, Average Price at $62,800

Metaplanet's latest purchase statement indicates that the company bought 21.88 bitcoins valued at approximately $1.2 million when Bitcoin briefly rebounded to nearly $65,000 this morning.

According to Coingecko, this purchase will bring their total Bitcoin holdings to 225.6 bitcoins, with a total value of around $14.6 million:

At the same time, Metaplanet has become the 21st largest publicly listed company entity holding Bitcoin globally.

The document indicates that the company's average Bitcoin purchase price is approximately 9.973 million yen or around $62,870, meaning its current return on investment is only about 3%.

Last week, Metaplanet purchased 42.46 bitcoins at an average price of $59,380 on July 7th, worth 400 million yen or around $2.53 million.

Stock Price of 3350.T Surges by 28%

Following this news, Metaplanet's stock price 3350.T surged by 22% within the first 30 minutes of trading on the Tokyo Stock Exchange, skyrocketing from the closing price of 93 yen on the 12th to 120 yen. As of the time of writing, it still maintained an astonishing 28% surge within just over two hours.

Since announcing its Bitcoin investment strategy on April 8, 2024, Metaplanet's stock price has nearly sextupled.

Japanese MicroStrategy Metaplanet Hits Limit Up for Two Consecutive Days, Surges Sixfold After Introducing Bitcoin Strategy

Metaplanet Discusses Bitcoin Investment Strategy: Hedging Against Long-Term Weakness of the Yen

Following a Bitcoin investment strategy akin to software company MicroStrategy's CEO Michael Saylor, Metaplanet is often referred to as the "Asian MicroStrategy" and is not shy about discussing its viewpoint:

This move is a direct response to the economic pressures in Japan, long-term negative interest rates, and is also a hedge against Japan's worsening debt burden and the rapid depreciation of the yen.

It is reported that since January 2021, the yen to dollar exchange rate has dropped by nearly 36%, while Bitcoin to yen has risen by over 143% in the past year.

Last month, Metaplanet announced that it would issue a second general corporate bond worth 1 billion yen or $6.26 million to purchase Bitcoin.

Japanese MicroStrategy Emulates by Issuing Bonds! Metaplanet Issues 1 Billion Yen Corporate Bond to Buy Bitcoin, with an Annual Interest Rate of 0.5%