Coinspeaker
Metaplanet’s BTC Acquisition Causes Shares to Soar

Metaplanet, a Web3 infrastructure provider, has seen a massive 90% surge in its Tokyo-listed stock in just 48 hours. The development comes barely two days after it announced acquiring $6.56 million worth of Bitcoin (BTC). At the time, the firm claimed that the acquisition was an effort toward reducing its exposure to the Japanese yen while also establishing its position as a forerunner in the adoption of digital assets in Japan. However, the endeavor is now proving to have far-reaching effects even beyond its initial plans. Meanwhile, Metaplanet acquired the latest Bitcoin (BTC) in quite a unique way and had the support of Sora Ventures, Morgan Creek Capital’s Mark Yusko, and others.

It added Bitcoin to its balance sheet in a way that would offer Japanese investors exposure to crypto through a publicly traded company instead of holding the asset itself. The implication of that is that investors would not be subject to high taxes on unrealized crypto gains.

Metaplanet Shares Soar

Recently, Bloomberg reported on how MicroStrategy recently added some more Bitcoin ...