Because Of Buying Bitcoin, Metaplanet Shares Soared 800%

Metaplanet shares flew after buying Bitcoin. (Photo; Doc. CryptoDaily)

JAKARTA - Japanese investment company Metaplanet recorded extraordinary success thanks to its bold strategy of buying Bitcoin. In the latest announcement, Metaplanet revealed the addition of 21,877 BTC into its portfolio, making them holders of more than 225,000 BTC. This move succeeded in lifting the company's share value significantly.

At the current price of Bitcoin, the value of Metaplanet's Bitcoin portfolio reaches nearly US$14.8 million (around Rp236.8 billion). Metaplanet shares, which are registered with ticker code 3550 on the Tokyo Stock Exchange, experienced a sharp spike.

In the last five days, its share price has risen 60% to 145 yen, and in the last 24 hours, its rise has reached nearly 16%. Not only that, the increase in Metaplanet shares so far this year has reached more than 800%.

Metaplanets have strengthened its position as one of the largest Bitcoin holders in the world. Although an official announcement of a new Bitcoin strategy emerged in May, data shows that the company has progressively accumulated Bitcoin since April. The first acquisition took place on April 23 with 97.85 BTC purchases. Metaplanets continue to increase Bitcoin ownership, including significant purchases in June and July.

Metaplanet's bold move reminds us of a similar approach taken by MicroStrategy, an American business intelligence company. Metaplanets use funding from bond sales to buy Bitcoin, following the trend of crypto adoption by other large institutions.

Metaplanet's decision to invest in Bitcoin was influenced by Japan's complex economic conditions, including large government debt, negative real interest rates, and weakening yen value. The company sees Bitcoin as an asset with "fundamental superior" compared to traditional currency forms and other crypto assets.

With this ambitious strategy, the Metaplanet not only strengthens its position in the crypto market but also shows the great potential of Bitcoin as a strategic asset amid global economic uncertainty.

The move illustrates how crypto investment can be a promising choice amid unstable economic conditions, providing an inspiring example for other companies considering similar measures.

A report from CoinDesk added that Metaplanets' move to increase their Bitcoin portfolio was driven by the belief that Bitcoin will continue to increase in value in the future. The move also shows how large companies are starting to see Bitcoin not only as a speculative asset but as a strong store of value.

Overall, Metaplanet's decision to accumulate Bitcoin has proven very profitable, with an impressive increase in share value. The move underscores the huge potential of Bitcoin in its investment portfolio and how these digital assets can provide significant gains for companies that dare to take risks.