Trump Media

Tokyo-based investment firm Metaplanet Inc. witnessed a 15.1% surge in its stock price on Tuesday after announcing the purchase of an additional 124.1 Bitcoin (BTC), valued at approximately $11.3 million.&nbsp; 
The company revealed that it acquired the cryptocurrency at an average price of 14.1 million yen ($91,266) per BTC, bringing its total Bitcoin holdings to 1,142.2 BTC, worth about $104.8 million.&nbsp; 
Metaplanet’s stock <a href="https://www.google.com/search?q=metaplanet+shares&amp;rlz=1C1CHZN_enIN1128IN1128&amp;oq=metaplanet+shares&amp;gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIHCAEQABiABDIICAIQABgWGB4yCAgDEAAYFhgeMgoIBBAAGIAEGKIEMgoIBRAAGIAEGKIEMgoIBhAAGIAEGKIEMgYIBxBFGDzSAQgzNzI0ajBqN6gCALACAA&amp;sourceid=chrome&amp;ie=UTF-8" target="_blank" rel="noreferrer noopener nofollow">closed</a> at 2,295 yen, with daily trading turnover reaching an impressive 21.9 billion yen ($141.7 million). The company’s shares have soared 1,334% year-to-date, outperforming many larger firms on the Nikkei 225 index, which rose 0.5% on the same day.&nbsp;&nbsp; 
CEO Simon Gerovich <a href="https://x.com/gerovich/status/1858767877442290022" target="_blank" rel="noreferrer noopener nofollow">highlighted</a> the significance of the move, stating on X that Metaplanet ranked 29th among 4,000 listed Japanese companies in trading value, surpassing industry giants like Itochu and NTT. 
This latest purchase aligns with Metaplanet’s strategy to adopt Bitcoin as a treasury reserve asset, a move announced in May. The company also <a href="https://contents.xj-storage.jp/xcontents/33500/31ab3733/fd77/4b13/83f7/4fd6573aea78/140120241119526153.pdf" target="_blank" rel="noreferrer noopener nofollow">disclosed</a> an impressive BTC yield of 186.9% between October 1 and November 19.&nbsp;&nbsp; 
To fund this acquisition, Metaplanet issued one-year bonds worth 1.75 billion yen ($11.3 million), set to mature in November 2025. The firm’s commitment to Bitcoin echoes similar strategies by MicroStrategy, which remains the largest corporate Bitcoin holder with 331,200 BTC.&nbsp;&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/11/19/bakkt-shares-soar-162-amid-trump-media-acquisition-talks/" target="_blank" rel="noreferrer noopener">Bakkt Shares Soar 162% Amid Trump Media Acquisition Talks</a> 
</blockquote>

Metaplanet’s Stock Climbs 15% After Buying 124 Bitcoins

The Crypto Times

Other articles published on Nov 19, 2024

Tezos (XTZ) Soars by 35% Daily: Is There More Room for Growth?

How to Buy GMX Coin?

Huawei becomes the latest casualty of US AI policies

Ondo Finance (ONDO) and PayPal USD (PYUSD) Integration Sparks 35% Token Surge: What’s Next?

Solana killer alert: Why this new token could outshine the giants by 2025

Solana's Monthly DEX Volume Hits Records $70B as $SOL Nears ATH

Join our free newsletter for daily crypto updates!