After Business Liquidation, Focus on Bitcoin Investment
"Benchmarking Saylor's Strategy"
Number of Individual Investors Surpasses 50,000
A Japanese hotel development company achieved a sharp rise in its stock price over one year through an investment strategy focused on Bitcoin.
According to Bloomberg News on the 9th (local time), the stock price of Japan's MetaPlanet increased by 4000% over the past year. This rate of increase is among the highest not only in Japan but also globally.
MetaPlanet originated from 'Daiki Sound,' a record production company established in 1999. The company later expanded its business into lodging and food service industries but experienced a downturn due to the COVID-19 pandemic. Eventually, it decided to liquidate all businesses except for a hotel in Tokyo and focus on Bitcoin investment.
Simon Gerovich, CEO, told Bloomberg, "We benchmarked Michael Saylor's strategy," and explained, "To cope with management difficulties caused by COVID-19 and the weak yen, we began purchasing Bitcoin as a strategic reserve asset starting in May last year." In fact, he also attended the inauguration of former U.S. President Donald Trump, who is known for emphasizing cryptocurrency-friendly policies.
Additionally, CEO Gerovich said, "With the yen's value continuously declining, Japan has become a suitable market for Bitcoin," adding, "Many investors seek hedges against currency depreciation." Currently, the number of individual investors in MetaPlanet has increased by 500% compared to the previous year, surpassing 50,000.
As of the 28th of last month, MetaPlanet holds 1,762 Bitcoins, valued at approximately $117.1 million (about 170.088 billion KRW) at market price. They plan to increase their holdings to 10,000 this year and expand to 21,000 next year.
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