Shares of Metaplanet, often referred to as the “Japanese MicroStrategy,” have surged by over 2700% since the company adopted a Bitcoin-focused strategy in early April 2024.
During the same period, Bitcoin has gained 34%, while gold has risen by approximately 22%.
Metaplanet currently holds 1,762 BTC worth $169.6 million.
In April, the company made its first Bitcoin purchase, acquiring ¥1 billion (~$6.6 million) worth of BTC, which triggered a nearly 90% stock price increase. Metaplanet described this as the first step in shifting its treasury reserves into Bitcoin.
In a letter to investors, the firm justified its decision by citing the persistent weakening of the yen due to Japan’s negative interest rate policy. While Bitcoin remains volatile, it has consistently appreciated over time. Metaplanet expects digital gold to continue outperforming Japan’s currency.
Reminder: CoinShares analysts have predicted growing interest in yield-generating Bitcoin strategies.
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