Metaplanet Holdings has seen a dramatic increase in its stock value, surging 4,800% over the past 12 months as of February 10, following the company’s strategic decision to add Bitcoin to its treasury.
This move, which mirrors the approach taken by Michael Saylor’s Strategy, has been met with significant investor interest, resulting in Metaplanet’s first operating profit in seven years.
The company disclosed that as of January 28, it has accumulated 1,762 Bitcoins, valued at approximately $171 million.
Metaplanet has set a goal to acquire up to 21,000 BTC by the end of 2026, which would represent 1/1000th of the total Bitcoin supply. This ambitious plan has been part of the company’s growth strategy and has contributed to the company’s recent profitability.
In addition to its Bitcoin holdings, Metaplanet has experienced a substantial increase in shareholder numbers and market capitalization. The number of shareholders has grown by 500% in 2024, with 50,000 individuals or entities investing in the company. Concurrently, its market capitalization has expanded by more than 6,300% during the same timeframe, as reported by Stock Analysis.
The trend of adding Bitcoin to corporate treasuries has gained traction among various companies, with Strategy leading the way since August 2020. This strategy has not only impacted companies like Metaplanet and Semler Scientific (NASDAQ:SMLR) but has also influenced state and national governments.
At least 16 states in the US are considering establishing Bitcoin reserves, and countries such as the US and Czechoslovakia are exploring the cryptocurrency as a potential reserve asset.
The broader market for Bitcoin has also reflected this growing acceptance, with a 133% increase in value over the past 52 weeks and a market dominance that has been on the rise since December 2022.
As of now, at least 32 publicly traded companies hold Bitcoin on their balance sheets, ranging from crypto-native firms to traditional corporations.
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