Metaplanet Inc. has seen a remarkable surge in its stock price following the announcement of its substantial Bitcoin holdings, which now total 35,102 BTC, valued at around $3.29 billion. This news catalyzed a 10.7% increase in Metaplanet”s stock by midday Tuesday in Japan, while its shares traded in the U.S. climbed by 19.17% on the previous Monday.
The company revealed that it purchased an additional 4,279 BTC during the fourth quarter of 2024. This strategic acquisition aligns with a broader trend in the cryptocurrency market, where investor interest in Bitcoin and related assets has been revitalized. The positive momentum in crypto markets was reflected in Bitcoin”s price, which briefly surpassed $94,000 before stabilizing at $93,835, marking a 1.37% increase over the last 24 hours.
Alongside Metaplanet, other companies holding Bitcoin on their balance sheets also posted gains. Notably, Strategy (MSTR) saw its stock rise 4.81%, while Mara Holdings experienced a 6.86% increase. This collective rise indicates a renewed appetite among investors for stocks linked to Bitcoin, particularly as the market begins to recover.
Simon Gerovich, a key figure at Metaplanet, noted the company”s strategy has been methodical, with purchases paced to minimize market disruption. This careful accumulation approach is similar to tactics employed by other institutional players who are gradually building their positions in cryptocurrency.
As part of this rally, other significant players in the crypto space also recorded substantial increases. Bakkt soared by 31.47%, closing at $14.79, and Coinbase”s shares rose 7.77% to $254.92, following an upgrade from Goldman Sachs to a “Buy” rating due to recent product developments and infrastructure revenue growth.
The surge in Metaplanet”s stock and the broader crypto rally highlight a crucial moment for the industry as investors are increasingly rotating back into risk assets. The company”s significant Bitcoin treasury positions it among the largest corporate holders of Bitcoin globally, marking a pivotal shift in the corporate adoption of cryptocurrency.
As the market continues to evolve, the implications of such substantial corporate holdings may lead to more strategic investment behaviors and potentially reshape the landscape of institutional participation in the cryptocurrency market.
