Key Points
- Metaplanet’s adoption of the Bitcoin standard in 2024 led to a significant increase in its stock trading volume in Japan.
- Following this move, the company plans to purchase 21,000 BTC by 2026, funded by issuing 21 million shares.
After embracing the Bitcoin standard in April 2024, Metaplanet, a Japanese firm, experienced a dramatic 7,000% surge in its market cap.
This transition has propelled the company’s stock into the top 50 by trading volume in Japan, as reported by the firm’s CEO, Simon Gerovich.
Metaplanet’s Performance and Future Plans
In a post made by Gerovich on February 4, he pointed out that the Tokyo-listed company is now among the top 50 in terms of trading volume among approximately 4,000 listed companies in Japan.
He also highlighted the high liquidity the company is currently experiencing, indicating increased investor interest and more efficient fundraising.
Gerovich further revealed in another post that Metaplanet’s daily trading volume has increased by 4,600 times on a year-over-year basis.
He also stated that the company’s monthly trading volume for January exceeded $2 billion.
Metaplanet is planning to leverage this momentum to purchase 21,000 Bitcoin (BTC) by 2026.
To finance this, the company is issuing 21 million shares to raise approximately $745 million.
This move marks the largest equity capital raise for Bitcoin in Asia.
After this announcement, the company’s shares saw a 5.6% increase in pre-market trading.
Metaplanet’s Record Year
In 2024, Metaplanet had a remarkable year, hitting a record Bitcoin (BTC) Yield of 309.82% in Q4.
By the end of the year, the firm held 1,761 Bitcoin, valued at over ¥27.7 billion (around $178 million).
Following the adoption of the Bitcoin plan, the number of Metaplanet’s shareholders increased to over 50,000.
