Metaplanet’s Stock is Up 3,600% Thanks to Bitcoin
- Metaplanet’s stock skyrocketed 3,600% with $36 million unrealized gains.
- The company plans to acquire 21,000 BTC by 2026 using mixed funding.
- Metaplanet is rebranding Hotel Royal Oak Gotanda into “The Bitcoin Hotel.”
Metaplanet has experienced massive growth in 2024, reporting an unrealized gain of roughly $36 million (5.46 billion yen) from its Bitcoin holdings.
The Tokyo-based company’s stock surged by 3,600% after shifting to a Bitcoin investment strategy. This turned Metaplanet into the best-performing stock out of 55,000 publicly listed companies, while its shareholder base expanded by 500% to hit 50,000 investors.
The company now owns 1,762 BTC, worth around $172.3 million. Purchased at an average price of $77,793 per Bitcoin, its holdings have already gone up by 26.7%. Going forward, the company plans to buy 10,000 BTC by the end of 2025, with the goal of owning 21,000 BTC by the end of 2026.
Related: Is Michael Saylor’s Latest Tweet a Secret Message About Another Bitcoin Binge?
To fund these acquisitions, the company will utilize a combination of debt issuance, including secured and convertible bonds, and equity…
The post Metaplanet’s Stock is Up 3,600% Thanks to Bitcoin appeared first on Coin Edition.
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Metaplanet’s Stock is Up 3,600% Thanks to Bitcoin
- Metaplanet’s stock skyrocketed 3,600% with $36 million unrealized gains.
- The company plans to acquire 21,000 BTC by 2026 using mixed funding.
- Metaplanet is rebranding Hotel Royal Oak Gotanda into “The Bitcoin Hotel.”
Metaplanet has experienced massive growth in 2024, reporting an unrealized gain of roughly $36 million (5.46 billion yen) from its Bitcoin holdings.
The Tokyo-based company’s stock surged by 3,600% after shifting to a Bitcoin investment strategy. This turned Metaplanet into the best-performing stock out of 55,000 publicly listed companies, while its shareholder base expanded by 500% to hit 50,000 investors.
The company now owns 1,762 BTC, worth around $172.3 million. Purchased at an average price of $77,793 per Bitcoin, its holdings have already gone up by 26.7%. Going forward, the company plans to buy 10,000 BTC by the end of 2025, with the goal of owning 21,000 BTC by the end of 2026.
Related: Is Michael Saylor’s Latest Tweet a Secret Message About Another Bitcoin Binge?
To fund these acquisitions, the company will utilize a combination of debt issuance, including secured and convertible bonds, and equity…
The post Metaplanet’s Stock is Up 3,600% Thanks to Bitcoin appeared first on Coin Edition.
Read More