MetaPlanet, a Japanese company which has been buying Bitcoin as a core part of their business strategy, has acquired another 68.59 BTC, worth $6.65M, to bring their total Bitcoin holdings up to 2,100 BTC, securing themselves 0.01% of the maximum Bitcoin supply of 21M coins.
The firm which has been dubbed the Asian MicroStrategy, was founded in 1999, originally focused on hotel management. They later pivoted their business strategy to adopt the “Saylor Playbook”, diving into Bitcoin treasury management in early 2024. The pivot has reinvigorated the company, making it the top performing Japanese stock over the last 1 year with a return of 3,550%, even driving the company to initiate a 10:1 stock split to improve liquidity of its circulating shares.
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