Bitcoin (BTCUSD)

[ap17]

CORPORATE BTC ADOPTION 🏦
BREAKING: Metaplanet acquires more Bitcoin as market rebounds to $63k

Bitcoin
“Asia’s MicroStrategy” has done it again.

In a recent filing, Metaplanet announced that they purchased an additional 20.2 Bitcoin for ¥200 million (~$1.2 million USD).

As of July 1, the company now holds 161.27 Bitcoin acquired for ~$10 million at an average purchase price of $63,500.

DL tweet
At first glance you may be wondering why we’re talking about this random Japanese company purchasing 20.2 Bitcoin…

But here’s the thing.

They aren’t a Bitcoin or a crypto company.

Metaplanet (publicly traded on the Tokyo Stock Exchange) originally specialised in hotel development and real estate.

But now they’ve shifted their attention towards Bitcoin, following the exact playbook of Michael Saylor’s MicroStrategy.

And since adopting a Bitcoin strategy, Metaplanet’s stock price has increased by 525% 😱

Metaplanet
With this recent purchase, Metaplanet now has the 28th largest Bitcoin holdings out of publicly traded companies.

But out of this list, they’re one of few that aren’t a Bitcoin / crypto focused company.

Corporate adoption of Bitcoin is increasing and it’s a proven strategy to increase a company’s stock value.

The question now on everyones mind:

Who will be next? 🤔