As a seasoned investor with a penchant for cryptocurrencies and a keen eye for market trends, this latest move by Metaplanet has caught my attention. Having witnessed the meteoric rise of Bitcoin over the years, I can’t help but feel a sense of deja vu with Metaplanet’s strategic BTC acquisition strategy mirroring MicroStrategy’s successful playbook.
On Tuesday, Metaplanet, a publicly-traded Japanese company, revealed that it had bought 124 Bitcoins worth approximately 1.75 billion Japanese Yen. This latest acquisition boosted the company’s total Bitcoin holdings to over 1,100 BTC. As a result, the firm’s stock price surged by an impressive 15% today. Notably, Metaplanet has been following MicroStrategy’s strategy for its recent Bitcoin investments.
Metaplanet Bitcoin Yield Shoots 186%
Simon Gerovich, CEO of Metaplanet, revealed that they bought an extra 124.117 Bitcoin for around 1.75 billion Japanese yen. This latest purchase was made at an average price of about 14,099,600 yen per Bitcoin. As a result, Metaplanet now holds a total of approximately 1,142.287 Bitcoins, which they acquired for around 11.372 billion Japanese yen. The average price they paid for these Bitcoins is roughly 9,955,874 yen per Bitcoin.
This strategic purchase by Metaplanet significantly boosted the company’s quarter-to-date (QTD) Bitcoin earnings to an impressive 186.9%. Notably, this move follows MicroStrategy’s acquisition of approximately 51,780 Bitcoins for a massive investment exceeding $4 billion just yesterday.
Immediately following the announcement, Metaplanet’s share price skyrocketed by over 14%, soaring beyond the 2,300 JPY mark in a powerful surge that broke through the significant barrier of 2,000 JPY. This strong move suggests the potential for the stock to increase another 30% and reach its projected peak of 3,000 JPY by 2024.
As a researcher, I’ve noticed an interesting trend emerging. On Monday, a Japanese firm disclosed its intention to sell bonds for purchasing more Bitcoin (BTC). This move mirrors MicroStrategy’s approach, who have been buying back their MSTR stock to finance their BTC acquisitions. The impressive 400% growth in the value of Bitcoin in 2024 has undoubtedly caught their attention.
MicroStrategy Creates Snowball Effect
Dylan Leclair, Bitcoin acquisition strategist at Metaplanet, emphasized a significant change in business tactics. In his words, Bitcoin now serves as the equivalent of “stock buyback” for Wall Street. Essentially, he warned, “Wall Street has been given fair warning.
He emphasized that the acceptance of Bitcoin by significant financial entities occurs as a result of the expected strategic interactions, or game theory dynamics, within the financial sphere.
Additionally, Michael Saylor’s open disclosure of his Bitcoin strategy sparked a chain reaction. Along with MicroStrategy, Marathon Digital and Semler Scientific have publicized their Bitcoin acquisition intentions. It’s also worth mentioning that tech titan Microsoft will be holding a shareholders’ meeting in December to discuss the possibility of adding Bitcoin to its financial ledger.
At the moment I’m reporting, the Bitcoin price is currently surging by 1.33% to stand at an impressive $91,763. This surge has elevated its total market capitalization to a staggering $1.816 billion. Should we manage to close today’s trade above $91,900, it seems we could be gearing up for a thrilling rally that might push the price towards the $100K milestone.
Read More
- FIS PREDICTION. FIS cryptocurrency
- 13 EA Games Are Confirmed to Be Shutting Down in 2025 So Far
- Minecraft May Be Teasing a Major New Feature
- Luma Island: All Mountain Offering Crystal Locations
- USD BRL PREDICTION
- What Borderlands 4 Being ‘Borderlands 4’ Suggests About the Game
- Accidental Win – How’d You Get Up There!
- Scream 7: Should Detective Wallace Come Back?
- Fidelity’s Timmer: Bitcoin ‘Stole the Show’ in 2024
- GTA 6 Could Make $1 Billion Before It’s Even Released
2024-11-19 08:12