Metaplanet Stock Surges 10% After Third Bitcoin Purchase

Metaplanet Stock Surges 10% After Third Bitcoin Purchase


Published Tuesday 11th June 2024

The recent surge in Metaplanet stock by 10% following their third notable Bitcoin purchase has caught the attention of investors and cryptocurrency enthusiasts alike. This move signals a growing trend among companies diversifying their portfolios with digital assets, particularly Bitcoin. By incorporating Bitcoin into their investment strategy, Metaplanet is positioning itself to potentially benefit from the cryptocurrency's volatility and long-term growth prospects.

With their third significant Bitcoin purchase, Japanese investment firm Metaplanet has increased their total holdings to 141.07 BTC, valued at over $9.6 million. This strategic move mirrors the approach taken by MicroStrategy, a publicly traded company that has been actively accumulating Bitcoin as part of their treasury reserves. By emulating MicroStrategy's strategy, Metaplanet is not only adding a valuable asset to their balance sheet but also potentially hedging against inflation and currency devaluation in the traditional financial markets.

Crypto News & Headlines

Spot Ethereum ETFs Likely To Trade Starting July 2, Says Bloomberg Analyst


Bloomberg analyst Eric Balchunas predicts the launch of the highly anticipated spot Ethereum ETFs on July 2nd, following optimistic feedback from the

Trending on 15th June 2024 08:15 AM

Uniswap (UNI) Surges Past $10 With Potential To Hit $20


Uniswap's native cryptocurrency, UNI, has surged over 8%, trading above $10 amid broader market consolidation.

Trending on 15th June 2024 07:36 AM

Turkey Proposes New Crypto Tax Amid Ongoing Lira Struggles


Turkish lawmakers propose a 0.03% tax on crypto transactions to address the budget deficit caused by last year's earthquakes.

Trending on 14th June 2024 11:02 PM

Majority Of Central Banks Consider CBDCs, Reports BIS


The latest BIS report reveals that 94% of central banks are considering a CBDC, with a greater focus on wholesale CBDCs over retail ones within the ne

Trending on 14th June 2024 10:21 PM

Gemini Settles $50M Fraud Case With New York


New York Attorney General Letitia James secured a $50 million settlement from Gemini Trust to repay defrauded investors in its Gemini Earn program.

Trending on 14th June 2024 09:15 PM