Metaplanet Doubles Its Bitcoin Holdings to 855.5 BTC, Boosting Stock Price by 15.7%

On October 15, COINOTAG reported that the Japanese publicly listed firm Metaplanet has significantly augmented its Bitcoin portfolio this month, accumulating over 450 Bitcoins through a series of four transactions. The firm’s latest announcement involved a purchase of approximately 107 Bitcoins, estimated at around $6.7 million, which coincided with a remarkable 15.7% surge in its stock price. This latest acquisition increases Metaplanet’s total BTC reserves to 855.5 Bitcoins. Since revealing its Bitcoin investment strategy in early April, the company’s stock has skyrocketed by 480%. CEO Simon Gerovich highlighted that their investment approach was influenced by MicroStrategy and its executive chairman, Michael Saylor, whose company holds an impressive 252,000 Bitcoins valued at $16.45 billion. Current data from Bitcoin Treasuries ranks Metaplanet’s holdings as the 23rd largest among public firms.