Metaplanet's Massive Bitcoin Buy: Overtakes Riot Platforms

Metaplanet just bought another 1,009 bitcoin, vaulting past Riot Platforms to become the sixth-largest corporate bitcoin holder globally. This bold move, valued at $112 million, underscores the Tokyo-based company's commitment to making bitcoin a core reserve asset. Metaplanet's bitcoin holdings jumped over 30% in just two months, making it Asia's leading publicly traded crypto adopter. Despite the crypto surge, Metaplanet's shares dipped 5.5%, leaving investors curious about the long-term payoff of this aggressive strategy. Hosted on Acast. See acast.com/privacy for more information.