Japanese Investment Firm Metaplanet Joins CoinShares Global Index
Date: 2024-11-06 Author: Henry Casey Categories: BUSINESS
Metaplanet CEO Simon Gerovich said the move reaffirms the company’s commitment to growing its value through Bitcoin investments and cements its position as the largest corporate holder of BTC in Japan.
BLOCK is an international index that tracks the performance of publicly traded companies in the blockchain and cryptocurrency space. It comprises 45 companies worldwide, including household names like exchange Coinbase, mining firm Riot Platforms, and software developer MicroStrategy. Now, Metaplanet, often referred to as the “Japanese MicroStrategy,” has also made the prestigious list.
Bloomberg reports that Metaplanet’s expected starting weight in the index is around 2.5%. The company currently holds over 1,000 bitcoins. According to the company, bitcoin yielded 155.8% from October 1 to October 28. On the back of this news, Metaplanet shares rose by 6.20%, making the company the second-most profitable company in Japan. Since the beginning of 2024, its assets have increased by almost 840%.
