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The post Japanese Company Metaplanet Inc Stock Rockets Embracing ¥1 Billion Bitcoin Investment appeared first on Coinpedia Fintech News
On Monday, April 8, 2024, Metaplanet Inc. (Tokyo: 3350), a highly diversified company focused on several sectors, including web3 space, announced that it has initially committed JPY 1 billion, which is approximately $6.56 million, to support its transition to adoption of Bitcoin (BTC) as the core treasury asset. Less than 24 hours later, its stock market had surged around 90 percent to trade at about ¥36 on Tuesday. As a result, the Metaplanet stock market is up more than 111 percent year-to-date (YTD).
Metaplanet is working closely with Sora Ventures, Morgan Creek Capital’s Mark Yusko, and UTXO Management, among others, to facilitate a seamless transition to Bitcoin adoption. 
Growing Trend in Bitcoin Adoption 
The tangible benefits that MicroStrategy has achieved through adopting Bitcoin in its balance sheet in the past few years h

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