Japan’s public-listed firm Metaplanet purchased an additional 21.88 BTC for $1.26 million, boosting its stock price by 25.81%. This acquisition comes as Bitcoin’s price surged by 4.5% on Monday, nearing $65,000.
Following a strategy similar to MicroStrategy, Metaplanet has been accumulating Bitcoin over the past two months using Dollar-cost-averaging (DCA). This consistent investment approach has significantly increased Metaplanet’s stock by 631% since the start of the year.
Metaplanet now holds Bitcoin worth 2.25 billion JPY, contributing to its market cap of 17.5 billion JPY. Analysts predict that Bitcoin could soon surpass 100% of Metaplanet’s total assets.
Bitcoin’s recent 13.3% recovery was bolstered by strong institutional interest and a global liquidity index uptick. This indicates a potential parabolic rally for Bitcoin prices.
Metaplanet’s strategic Bitcoin adoption underscores its commitment to leveraging cryptocurrency for long-term growth.
