Bitcoin-focused investment firm Metaplanet began trading its shares on the US OTCQX market under the ticker MTPLF.
Bitcoin-focused investment firm Metaplanet, also popular as Japan’s MicroStrategy, has started trading its shares on the US OTCQX under the ticker MTPLF. The announcement follows soon after the company declared itself a Bitcoin Treasury firm.
Soon following the announcement from CEO Simon Gerovich, the Metaplanet stock surged 7% on Thursday, closing at 3,770 JPY. Last week, the stock price surged to an all-time high of 4,240 JPY, thereby taking the company valuations to more than $1 billion in a milestone achievement. Ever since the Bitcoin adoption in May, the company’s stock price has given shareholders multifold returns with 2,200% returns year-to-date.
With its Bitcoin BTC $101 795 24h volatility: 2.8% Market cap: $2.01 T Vol. 24h: $104.78 B adoption strategy and strong stock rally, Metaplanet is on the path to becoming profitable for the first time since 2017. As of press time, MTPLF is trading at $26.3 on the OTCQX market.
Japan’s MicroStrategy announced that it remains committed to a “Bitcoin First, Bitcoin Only” strategy. Thus, it continues to implement its aggressive Bitcoin acquisition plan as part of its treasury management strategy. Earlier this week, the company also introduced 4.5 million JPY worth of bonds to accelerate its Bitcoin acquisition plans.
Metaplanet’s strategy has gained even more relevance, especially amid the continued weakness of the yen, which is trading around 155 to the US dollar. The company emphasizes that Bitcoin acquisitions are essential for safeguarding and growing its asset value in the current global financial environment.
In response to strong international demand, Metaplanet has taken steps to list its shares on the OTCQX market in the U.S, the world’s largest equity market. This move will provide broader access to the firm’s Bitcoin-focused investment strategy for both institutional and retail investors.
Metaplanet CEO Simon Gerovich highlighted the strategic significance of the move, calling it a crucial step in boosting global investor confidence. He attributed the company’s rising popularity to its pioneering Bitcoin Treasury Strategy. Gerovich noted:
“We are pleased to share that, commencing December 19 (US time), Metaplanet shares will trade on the US OTCQX market under the ticker “MTPLF”. This marks a key step in expanding access for global investors to join our journey as Asia’s first Bitcoin Treasury Company.”
To boost its Bitcoin holdings, the company has also been leveraging Bitcoin price volatility to trade options thereby generating sustainable profits along with core Treasury activities.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
