What caused Metaplanet's stock price to surge 4,800%?
Metaplanet’s stock price has risen 4,800% as the company, described as “Asia’s micro-strategy,” has been buying a lot of Bitcoin.

Metaplanet’s stock price has risen 4,800% as the company, described as “Asia’s micro-strategy,” has been buying a lot of Bitcoin.
Golden Finance launches Golden Web3.0 Daily to provide you with the latest and fastest news on games, DeFi, DAO, NFT and Metaverse industries.
The moves by Sony and Metaplanet indicate growing adoption of Crypto assets in Japan.
The Japanese investment advisor said it acquired more than 20.2 BTC.
Metaplanet, often referred to as the "MicroStrategy of Asia," has acquired an additional 20.2 Bitcoin (BTC) worth approximately 200 million yen (about $1.2 million). This is the company's fourth Bitcoin purchase in four months. With this latest purchase, Metaplanet's total Bitcoin holdings have reached 161.27 BTC, valued at over 1.6 billion yen (over $10 million).
Metaplanet's shares soared 158% after adopting a Bitcoin investment strategy, mirroring MicroStrategy, amid Japan's economic pressures and yen devaluation.
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The Wiki Finance Expo, Sydney 2023, scheduled for November 16th, is set to highlight key areas including regulation, Forex, Crypto, Web 3.0, Metaverse, AI, and ESG.
At one of the keynote speeches, Aragon Han from Vatee talks about exploring the impacts of the rise of the anti-USD movement.