japanese firm Metaplanet buys BTC mirroring MicroStrategy's strategy \ stacker news ~econ

NEW: Japanese firm Metaplanet buys ¥1B ($6.5M) of #Bitcoin, mirroring MicroStrategy's strategy.

The company's shares jumped 90% following the announcement.

31 sats \ 0 replies \ @TheBTCManual 9 Apr

I wonder how many companies are going to try this to try and juice their stock price so they can dump equity during the bull market

1 sat \ 0 replies \ @south_korea_ln 9 Apr

Supposed shitcoin company headed by bsv'er. See https://x.com/Pledditor/status/1777369771417170103

0 sats \ 0 replies \ @nym 25 Apr

Are they still buying?

0 sats \ 0 replies \ @02bcd3eeb0 9 Apr

Some shitcoin company buys <100 bitcoins. That's a rounding error, who cares? It's like people don't understand the difference between millions and billions.

0 sats \ 1 reply \ @Coinsreporter 9 Apr

It's better to stay away such institutions who claim to be Bitcoiners but they are in fact the traitors to decentralized dream.

10 sats \ 0 replies \ @02162427dd 9 Apr

Somewhat reminiscent of The Long Island (Blockchain) Ice Tea company

0 sats \ 0 replies \ @grayruby 9 Apr

I read something about this yesterday on twitter but I don't know much about this company. Any insights?

0 sats \ 1 reply \ @Wumbo 9 Apr

https://markets.businessinsider.com/news/currencies/metaplanet-shares-soar-as-japanese-firm-mimics-microstrategy-on-bitcoin-buying-1033232679?op=1

Metaplanet (3350), a Web3 infrastructure provider, saw its Tokyo-listed stock rise almost 90% in two days after saying it was adding $6.56 million in bitcoin {{BTC}} to its balance sheet in partnership with Sora Ventures, Morgan Creek Capital's Mark Yusko and others.

I am not sure I fully understand the arraignment here. Did MetaPlanet sell equity to Sora Ventures, Morgan Creek Capital's Mark Yusko and others to raise the funds for the BTC purchase?

10 sats \ 0 replies \ @IgnaciobTato OP 9 Apr

They added BTC in their Balance Sheet and the stocks rised as it listed in the Japanese Stock Exchange.

The way they added BTC in their Balance Sheet will be clarified. Like MS some information about their BTC management is not revealed due to security reasons.

Also official information:

https://twitter.com/JasonSoraVC/status/1777300574939058202?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1777300574939058202%7Ctwgr%5E4e8115805e2e8841a247a5a02fb3de58c330a364%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.coindesk.com%2Fmarkets%2F2024%2F04%2F09%2Fmetaplanet-shares-soar-as-japanese-firm-mimics-microstrategy-on-bitcoin-buying%2F

https://twitter.com/Metaplanet_JP/status/1777243921867014574