Shares of Japanese investment firm Metaplanet soared at the opening of the market after announcing plans to raise $5.4 billion last week to buy Bitcoin.
Metaplanet’s stock (3350T) rose more than 12% on June 9 trading, trading at 1,505 yen ($10.42), according to for Google Finance. However, at the peak of the fair, Metaplanet’s stock reached 1,641 yen ($11.36), up 22%.
Metaplanet updated its Bitcoin (BTC) Acquisition plan to acquire 210,000 BTC in the stock acquisition rights plan announcement on June 6 by the end of 2027, Increase its previous 21,000 BTC target.
If successful, the acquisition will make Metaplanet the second largest Bitcoin holder of a listed company, and Michael Saylor’s companystrategy, according to to BITBO data.
Metaplanet’s “555 million” plan
Metaplanet holds the latest 8,888 bitcoins 1,088 BTC Acquisition Announcement June 2.
As part of its new 555 million plan, the company will need to purchase 201,112 by 2027, costing more than $21 billion. By 2026, Metaplanet has marked plans to hold 100,000 bitcoins.
Previously, under its 21 million plan, Metaplanet would hold 21,000 bitcoins by the end of 2026 without any specific plans for more purchases.
Metaplanet First Announced that he has bought Bitcoin On July 22, 2024, its share price rose 19% to 173 yen ($1.10). The stock price has risen by more than 1,744% in the year since the first buy.
Strategy Lead
More and more companies own Decided to add Bitcoin Related to the balance sheet of Korean entertainment company K Wave Media Become the latest June 4.
The company’s Bitcoin Treasury Group accounts for more than 3 million Bitcoins and is worth more than 342 billion US dollars. according to Bitbo data, which is currently in circulation in more than 19 million data.
Bitcoin reserve strategy trends have led to 61 publicly listed companies that now hold 3.2% of all Bitcoins, which is one June 3 “Standard Charter Report”.
The results of stocks after Bitcoin purchase are mixed
Other companies also saw stock prices rise after announcing their Bitcoin purchase plans. Paris-based crypto company Blockchain Group began buying Bitcoin on November 5, Stocks soar 225% to 0.48 euros ($0.52).
Meanwhile, a stake in Indonesian fintech company Digiasia Corp Almost doubled, up 91%After the company said it plans to raise $100 million to sow the first of its many bitcoin purchases.
Related: Meta won’t buy bitcoin because shareholders backfire the Treasury idea
However, not everyone has experienced the peak. Norwegian crypto brokerage firm K33 announced on May 28 Intent to buy and hold cryptocurrencybut its share price traded flat, down 1.96%.
Video game retailer GameStop shares jumped nearly 12% On March 26, the company announced plans to buy Bitcoin. But, it 11% decline on May 11 After the retailer first purchases 4,710 bitcoins.
Magazine: The rise of Asian mini cloning, mainly using cryptocurrencies: Asian Express 2024 Comments
