Japanese MicroStrategy Becomes One of Largest Corporate Bitcoin Holders in Asia
Tokyo-based early-stage investment firm Metaplanet now holds more than 1,000 Bitcoins.
According to CEO Simon Gerovich, this makes it one of the largest corporate holders of the leading cryptocurrency in Asia.
Recently, the company announced yet another purchase of 156.78 BTC
After adopting Bitcoin as its treasury reserve asset in a MicroStrategy-like pivot, the shares of Metaplanet skyrocketed, reaching the maximum possible daily gains on the Tokyo Stock Exchange. The adoption of Bitcoin helped to inject new life into the struggling consulting firm, which used to function as an operator of low-budget hotels.
Earlier this month, the company announced the MicroStrategy-like "BTC Yield" metric, which makes it possible to showcase what impact Bitcoin purchases have on shareholder returns.
Metaplanet's objective is to accumulate as much Bitcoin as possible, and the Tokyo-based company has already found among the largest corporate holders of the leading cryptocurrency. According to the most recent data, Metaplanet is now on track to surpass Bitcoin mining hardware manufacturer Canaan and mining company Bitfarms in terms of total holdings. Notably, Metaplanet is the only Japanese entry on the list of the top corporate Bitcoin owners.
Read more on U.Today https://u.today/japanese-microstrategy-becomes-one-of-largest-corporate-bitcoin-holders-in-asia
$CME Bitcoin - main 2410(BTCmain)$
Modify on 2024-10-29 18:30
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
This ticker? $Metaplanet Inc.(MTPLF)$
Thanks guys!!