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Metaplanet Stock Rises 3,600% After Bitcoin Investment Strategy
Japanese company Metaplanet has witnessed a staggering 3,600% surge in its stock price over the past year following a strategic shift towards investing in Bitcoin. The former hotel developer now holds 1,762 BTC valued at approximately $171 million.
The sudden and drastic turnaround is attributed to CEO Simon Gerovich’s decision to pivot the company’s focus from hospitality to a Bitcoin-focused investment strategy, emulating Michael Saylor’s (formerly MicroStrategy) approach of using its publicly traded entity as a vehicle for investors seeking exposure to the cryptocurrency.
Source: blockonomi.com
