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> 
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<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> 
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<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?

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