Metaplanet Shares Surge 2700% Following Bitcoin Strategy Adoption

Shares of Metaplanet, dubbed the “Japanese Microstrategy,” have soared over 2700% since the adoption of a Bitcoin strategy in early April 2024. 

During the same period, the leading cryptocurrency increased by 34%, while gold rose by approximately 22%.

The company holds 1762 BTC valued at $169.6 million.

In April, the firm acquired the leading cryptocurrency worth 1 billion yen (~$6.6 million), triggering a nearly 90% rise in its shares. Metaplanet representatives described this as the first step in transitioning its treasury to the leading cryptocurrency. 

In a letter to investors, the company explained its decision to convert capital into cryptocurrency due to the persistent weakening of the yen as a result of negative interest rate policies. Despite its volatility, Bitcoin has steadily increased over the years. The firm expects digital gold to continue outperforming the Japanese currency.

Earlier, CoinShares experts forecasted a surge in interest around Bitcoin yield strategies.