"Japanese Investment Firm Metaplanet Inc. Sees 25.8% Stock Price Increase After Buying Additional Bitcoin"

• Metaplanet Inc. stock price surged 25.8% after buying $1.26 million worth of bitcoin.
• The Tokyo-listed company now holds 225.611 BTC, valued at $14.2 million.
• Metaplanet started adopting bitcoin as a strategic treasury reserve asset in May.
• The latest purchase of 21.877 BTC follows previous acquisitions in April, May, June, and July.
• The company's board agreed to buy $6.26 million worth of bitcoin through bond issuance.
• Disclaimer: The Block is an independent media outlet with financial disclosures.

Summary :
Japanese investment firm Metaplanet Inc. experienced a significant increase in its stock price, rising by 25.8%, after announcing its purchase of additional bitcoin valued at approximately $1.26 million. The Tokyo-listed company revealed that it acquired an extra 200 million yen worth of bitcoin, bringing its total bitcoin holdings to 225.611 BTC, equivalent to about 2.25 billion yen ($14.2 million). This recent acquisition follows Metaplanet's previous purchase of 42.47 BTC just a week prior. The company's decision to adopt bitcoin as a strategic treasury reserve asset was motivated by economic pressures in Japan, including high government debt levels, prolonged periods of negative real interest rates, and a weak yen. Metaplanet's stock experienced a surge of approximately 25.81% during the morning session. In addition, the company had previously purchased bitcoin on multiple occasions in April, May, June, and July. It is important to note that this article is for informational purposes only and does not constitute legal, tax, investment, financial, or other advice.

Sources :

- TheBlock