tl;dr
Japanese company Metaplanet has increased its Bitcoin (BTC) holdings by 20.381 BTC, leading to a significant stock jump. The firm now holds 245.99 BTC worth approximately $15.5 million. This acquisition follows the company's strategy to adopt BTC as a strategic treasury reserve asset amid sustained ...
Japanese company Metaplanet has increased its Bitcoin (BTC) holdings by 20.381 BTC, leading to a significant stock jump. The firm now holds 245.99 BTC worth approximately $15.5 million. This acquisition follows the company's strategy to adopt BTC as a strategic treasury reserve asset amid sustained economic pressure in Japan. Metaplanet's stock price has surged 20.69% in response to the announcement of more asset purchases, reflecting positive sentiments in the digital asset market.
Metaplanet has acquired 20.8 BTC worth approximately $1.27 million (200 million yen). This latest acquisition brings the company’s total holdings to 245.99 BTC amid its announced strategy. In total, its Bitcoin holdings are now worth $15.5 million about 2.45 billion yen.
On June 24, the company announced plans to purchase 1 billion yen worth of Bitcoin leveraging on capital flow through issuing bonds. In May, the firm disclosed a move to adopt BTC as a strategic treasury reserve asset. According to the company, its decision is based on sustained economic pressure in Japan with high government debt and longer negative interest rate periods.
At press time, Metaplanet’s stock price is up 20.69% today following the announcement of more asset purchases to meet its set goals. Recently, the firm’s stock has marked a bullish outlook with a 59% growth this week and an 84% inflow in the last 30 days.
The recent stock jump following the announcement points to increased sentiments in the digital asset market after previous weeks of sideways trading. Bitcoin price stands at $67,668, a 7.43% jump in the last seven days. Similarly, altcoins and meme tokens have notched similar gains with some hitting double-digit figures.
More about Optical Cable Corporation
Optical Cable Corporation Summary
Optical Cable Corporation manufactures and sells fiber optic and copper data communications cabling and connectivity solutions primarily for the enterprise market in the United States and internationally. The company is headquartered in Roanoke, Virginia.
Industry
Manufacturing, Drawing & Insulating of Nonferrous Wire
Stock Performance
Previous Close: $-0.54
Open: $8.36
Change: -0.0643
Volume: 65,237,000
Market Cap: $0
Dividend Yield: 0
Beta: -0.179