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Home»Bitcoin»Metaplanet is up over 900% YTD
Bitcoin

Metaplanet is up over 900% YTD

2024-07-22No Comments3 Mins Read
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  • Metaplanet rose over 900% YTD as its BTC strategy paid off.
  • Metaplanet has accumulated BTC over the past two months, totaling 225,611 BTC

All year round, major companies turn to BTC to increase their holdings. Metaplanet, a Japanese company, is at the forefront of this movement and is driving institutional interests in Bitcoin [BTC].

Metaplanet’s strategy is paying off

Over the past two months, Metaplanet has been busy buying BTC, increasing their total holdings through accumulation. On May 28, 2024, the company announced the purchase of BTC worth $1.6 million.

Earlier this month, the company had purchased 19.87 BTC worth $1.7 million. In June, Metaplanet announced a new purchase of 23.25 BTC worth $1.59 million, for a total of $141.07 million.

In July so far, the company has continued to accumulate with the latest purchase of 21,877 BTC, bringing its total holdings to 245,611 BTC worth $14.8 million based on prevailing market rates.

Metaplanet’s strategic BTC accumulation in recent months has seen its shares rise exponentially.

Source: Google Finance

The recent buying spree is paying off, with Metaplanet becoming one of the most important institutional players on the global stage. According to CoinGecko, Metaplanet was the second largest corporate BTC holder at the time of writing.

The continued accumulation of BTC has seen its shares rise exponentially. At the time of writing, Metaplanet shares are up 19.31% in the past 24 hours.

According to Google Finance, shares are up 51.75% in the past five days and 82% in the past month. The recent increase has taken the year to date to over 900%.

See also  Japan's Metaplanet increases its Bitcoin holdings with a $6.9 million purchase

Therefore, the continued rise in stocks suggests that their initiative to use BTC as a strategic treasury reserve is paying off tenfold.

Bitcoin as an alternative in Japan?

Japan’s economy has suffered more than any other economy in developed and G-7 countries.

Therefore, Metaplanet’s strategy includes means to avoid and manage the risks associated with an underperforming economy.

Currently, Japan has a high national debt of 261% of the country’s GDP, which has affected the currency. The Japanese yen has fallen in value against the dollar, trading from $1 to 156.70 yen at the time of writing.


Read Bitcoin’s [BTC] Price forecast 2024-25


Therefore, Metaplanet has included BTC in its treasury assets, and the company has aimed to limit its exposure to the yen, which has depreciated significantly over the past year.

With BTC expected to grow beyond $100,000 by 2024, Metaplanet is looking to leverage this growth and improve the stock’s performance.

Previous: Keep an eye on Dogwifhat profits? Here are the main entry points for WIF bulls

Next: Biden’s departure boosts Bitcoin: Will Musk’s ‘laser eyes’ add to the hype?

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Metaplanet YTD
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