Crypto Blog
Japanese investment firm Metaplanet has been on an aggressive Bitcoin buying spree. Earlier this week, it announced adding 21.877 BTC to its stash, bringing its total holdings to 225.611 BTC.
The market’s response to this news appears to have been overwhelmingly positive. According to data compiled by Google Finance, Metaplanet’s shares – traded under the ticker 3550 on the Tokyo Stock Exchange –60% to ¥145 over the past five days. In the past 24 hours alone, the shares have soared nearly 16%, bringing the year-to-date gains to over 800%.
Dubbed “Asia’s MicroStrategy,” the firm often follows the same investment strategies as the American business intelligence firm. Financing its Bitcoin buys through bond sales, Metaplanet’s approach highlighted the growing trend of institutional BTC adoption.
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