Rally

2024

Bitcoin

<a href="https://bitcoinworld.co.in/japans-metaplanet-buys-another-bitcoin-dip-will-the-stock-rally-continue/" title="Japan’s Metaplanet Buys Another Bitcoin Dip, Will The Stock Rally Continue?" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400;">Metaplanet’s stock price has surged 2.5% in post-lunch trading following the latest Bitcoin acquisition news. The company’s BTC holdings as a percentage of its market cap continues to rise.</li> 
 <li style="font-weight: 400;">The company has a market cap of 14.5 billion JPY and 2 billion JPY in Bitcoin holdings.</li> 
</ul> 
Every passing week, Japan’s public-listed firms continue to add more and more Bitcoins to their stash. Making the most of this Bitcoin price dip, Metaplanet <a href="https://twitter.com/Metaplanet_JP/status/1810148327654060441">purchased</a> an additional 42.47 Bitcoins worth 400 million yen or 2.42 million USD. Interestingly, the Bitcoin purchase comes as the BTC price crashed under $54,500 earlier today. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 *Metaplanet purchases additional 42.47 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>* <a href="https://t.co/dPotWszW1Y">pic.twitter.com/dPotWszW1Y</a> 
 — Metaplanet Inc. (@Metaplanet_JP) <a href="https://twitter.com/Metaplanet_JP/status/1810148327654060441?ref_src=twsrc%5Etfw">July 8, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="span-style-font-weight-400-metaplanet-on-bitcoin-accumulation-spree-span">Metaplanet on Bitcoin Accumulation Spree</h3> 
The Japanese firm Metplanet has made a strong pivot by adopting a Bitcoin accumulation strategy. As a result, it is also popularly referred to as the MicroStrategy of Japan.&nbsp; 
Metaplanet is expanding its Bitcoin investment strategy by establishing a new subsidiary in the British Virgin Islands.&nbsp; 
This move aims to bolster its position in the cryptocurrency market and increase its Bitcoin reserves as part of its long-term financial strategy. 
With continuous accumulation over the last month and more, Metaplanet has accumulated a total of 203.734 Bitcoins with a total investment value of 2.05 billion yen.&nbsp; 
Metaplanet’s market cap currently stands at 14.5 billion JPY, with Bitcoin holdings on its balance sheet amounting to 2 billion JPY.&nbsp; 
The percentage of Bitcoin as part of Metaplanet’s total assets continues to rise with some market analysts expecting it to exceed 100% in the near future. 
Dylan LeClair, the Director of Bitcoin Strategy at Metaplanet, is the braid behind all these bold moves.&nbsp; 
In one of these latest podcasts, Leclair <a href="https://twitter.com/DylanLeClair_/status/1810027255940223047">said</a>: “Japan’s favorable environment for Bitcoin adoption presents a unique opportunity for corporate strategy and growth”.&nbsp; Furthermore, LeClair is also gaining popularity as the ‘Michael Saylor’ of Metaplanet. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 It was an honor to join the man who helped kickstart the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&nbsp;circular economy in El Salvador, Mike Peterson (<a href="https://twitter.com/Bitcoinbeach?ref_src=twsrc%5Etfw">@Bitcoinbeach</a>), on his podcast. 
 We discussed the economical revival of El Salvador, global BTC adoption and the Metaplanet strategy.<a href="https://t.co/Xr2idqu3jl">https://t.co/Xr2idqu3jl</a> 
 — Dylan LeClair <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e0.png" alt="🟠" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@DylanLeClair_) <a href="https://twitter.com/DylanLeClair_/status/1810027255940223047?ref_src=twsrc%5Etfw">July 7, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="span-style-font-weight-400-all-eyes-on-the-stock-price-span">All Eyes on the Stock Price</h3> 
<a href="https://bitcoinworld.co.in/bitcoin-begins-month-with-a-rebound-as-metaplanets-btc-investment-tops-10-million/">Metaplanet</a> Stock price has registered significant gains ever since the company adopted a Bitcoin strategy.&nbsp; 
After seeing some volatility earlier today, the stock price has gained 2.5% in the post-lunch trading session in Japan, following the Bitcoin buying news. 
Since the beginning of 2024, the Metaplanet stock is already up by 382%, a large part of it fueled by the company’s Bitcoin adoption strategy.&nbsp; 
Last month, the Metaplanet share price reached a high of 107 JPY. It will be interesting to see if this rally can continue further. 
The Bitcoin price has crashed another 5.8% in the last 24 hours slipping to an intraday low of $54,420. However, it has bounced back partially to $55,500 following today’s Metaplanet’s BTC purchase.

Japan’s Metaplanet Buys Another Bitcoin Dip, Will The Stock Rally Continue?

Table of Contents

ItsBitcoinWorld

Other articles published on Jul 9, 2024

FTX Creditors to Receive Billions in Repayments, Yet Controversy Lingers

Best Meme Coin Presale: Moonbag Appears to Hold More Potential Than Aave and SingularityNET

US Senate Proposed Testing Blockchain for National Security Purposes

Water crypto price prediction: Will $WATER continue to rise after Messi’s promotion?

Bitcoin Spot ETFs Attract $295 Million Despite Social Media Pessimism

Ethereum Price Stagnates At $3100 As Spot ETF Gets Postponed

Join our free newsletter for daily crypto updates!