According to a recent report from COINOTAG, on November 3, Simon Gerovich, CEO of Metaplanet, a publicly traded Japanese firm, revealed that the implementation of a Bitcoin investment strategy has led to an astonishing 1,017% increase in the company’s stock price this year, positioning it as the top-performing Japanese stock of 2024. Initiated in April, Metaplanet’s Bitcoin initiative has established it as the second-largest corporate Bitcoin holder in Asia, trailing only behind Boyaa Interactive. Data from Yahoo Finance indicates that Metaplanet’s share price surged by 740% within six months, escalating from $190 in April to a remarkable $1,596 at last Friday’s close. Currently, the company boasts an impressive holding of 1,018.17 BTC, with an average acquisition cost of $61,800, translating to a significant floating profit exceeding $6 million based on the prevailing Bitcoin market price.
Source: https://en.coinotag.com/breakingnews/metaplanets-bitcoin-investment-strategy-fuels-impressive-1017-stock-surge-in-2024/