Metaplanet a Japanese investment company specialized in Bitcoin acquisition enhanced its Bitcoin stockpile by buying 156 coins and seeks global stock market opportunities.
The company made public on March 3 that it bought 156 Bitcoin units at a total cost of $13.4 million with each unit priced at $85,890. Through this acquisition Metaplanet expanded its Bitcoin collection to 2,391 BTC. Since April 2022 Metaplanet started buying Bitcoin and currently holds 2,391 BTC worth $196.3 million which it purchased at $82,100 per coin.
The investment returned 13% profit. Metaplanet’s CEO visited NYSE and Nasdaq representatives to explore ways that shareholders worldwide could buy the company’s shares. The company leadership team wants to find the ideal approach to help worldwide investors buy Metaplanet shares according to Gerovich’s March 3 Twitter announcement.
Metaplanet Grows Bitcoin Holdings
Metaplanet makes its shares (MTPLF) available on OTC Markets which provides U.S.-based market information for over-the-counter securities. The stock on OTC Markets rose 530% since November when Metaplanet joined the platform. Its share value increased from $3 to $18.9.
The company performs well on Tokyo Stock Exchange and earned an 1,800 percent increase in stock value according to Google Finance data during the last year. As BitBo’s BitcoinTreasuries.NET shows Metaplanet holds the 14th largest corporate Bitcoin inventory in the world today.
The company uses various financial tools to support its Bitcoin buying plan and plans to own 21,000 BTC by 2026. Metaplanet adopts Bitcoin aggressively because various leading companies including MicroStrategy have started using it. Bitcoin’s rising value store against inflation makes more institutions and companies adopt Bitcoin into their business money plans.
Bitcoin’s Institutional Appeal
The company’s positive performance results from implementing an effective Bitcoin plan while investors put more trust in its business. Market analysts believe U.S. listing opportunities will make Metaplanet’s stocks more accessible to the market as they attract institutional investors who prefer listed stocks over OTC Markets.
The company needs a listing on Nasdaq to show investors and regulators internationally that it operates under market standards. Metaplanet’s Bitcoin buying spree attracts more investors as the company pushes forward as a leader in Japan’s new Bitcoin market.
A stock listing on U.S. exchanges allows Metaplanet to attract global investors who cannot invest through the OTC marketplace. Everyone wants to see what step the firm will take next as it looks for new growth prospects within the cryptocurrency industry.
