Apr 9, 09:56 AM

Metaplanet Stock Soars 90% After $659M Bitcoin Investment, Launching Asia Microstrategy

Sora Ventures has partnered with Metaplanet, a Tokyo Stock Exchange listed company, to launch a new product aimed at allowing Japanese investors to gain exposure to Bitcoin without incurring a 55% unrealized gains tax. This initiative, dubbed the "Asia Microstrategy," mirrors the strategy previously adopted by MicroStrategy in the U.S. Following the announcement, Metaplanet's stock price surged by nearly 90%. The company has further bolstered its strategy by adding 1 billion yen (approximately $6.5 million) worth of Bitcoin to its balance sheet, positioning Bitcoin as a core treasury asset, and plans to add $659M in Bitcoin. This move has drawn comparisons to MicroStrategy's approach in the U.S., with Metaplanet's CEO welcoming such comparisons.