Japanese Listed Company Metaplanet's Stock Price Soars 158% in a Week Due to Bitcoin Strategy, Triggering Consecutive Trading Halts
PANews reported on May 23 that the stock price of Japanese listed company Metaplanet surged significantly due to its Bitcoin investment strategy similar to Microstrategy's, leading to a two-day suspension of its stock trading on the Tokyo Stock Exchange. This strategy caused the company's stock price to rise by 158% over the past week. In just two days, Metaplanet's stock price increased by 127% to 93 yen, nearly pushing its market value to $1 billion, prompting the exchange to suspend trading based on the daily maximum increase rule. Metaplanet aims to accumulate Bitcoin as a hedge against Japan's economic challenges, including a high debt-to-GDP ratio and yen depreciation, and has accumulated 117.7 Bitcoins worth $7.2 million. Since announcing its Bitcoin strategy, its stock price has risen by 389%.
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