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Metaplanet Ranked Second Among Japan's Most Profitable Companies

Metaplanet Ranked Second Among Japan's Most Profitable Companies

HappyCoinNewsHappyCoinNews2024/11/03 23:33
By:HappyCoinNews

Investment firm Metaplanet was named one of Japan's most profitable companies of the year by TradingView.

Since the beginning of the year, Metaplanet shares have grown by 740%, which has secured it second place after investment company Beat Holdings Limited, whose assets have increased in price by almost 980%.

Japanese Stocks With Best Yearly Performance

Shares of Japan's Metaplanet are currently trading on the Tokyo Stock Exchange at 1596 yen (about $10,45). The stock has risen 24% in the past 12 hours. According to price tracking platform TradingView, the company's trading volume over the past 4,956 hours was about XNUMX million yen.

Experts attribute Metaplanet's success to its decision to use Bitcoin as a reserve asset, copying Michael Saylor's MicroStragedy strategy. According to Bitcoin Treasuries, the Japanese company currently holds 1018 bitcoins worth about $71,380 million. Metaplanet is ranked 19th on the list of the largest companies with Bitcoin -balance.

The Japanese investment firm bought the flagship coin seven times in October, with its largest acquisition coming on October 28, when Metaplanet added another 156 BTC to its cryptocurrency reserves.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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