The FTSE Global Equity Index Series semi-annual review upgraded Metaplanet from a small-cap stock to a mid-cap stock. Source: FTSE Russell
The inclusion of Metaplanet in major, globally recognized stock market indices means the company will redirect capital flows into Bitcoin from traditional financial markets and give passive stock investors indirect exposure to the world’s largest cryptocurrency.
Related: Metaplanet and Smarter Web add almost $100M in Bitcoin to treasuries
Metaplanet outperforms Japan’s blue chip stocks, as it eyes expansion
Metaplanet outperformed the Tokyo Stock Price Index (TOPIX) Core 30, a stock market benchmark index, featuring Japanese manufacturing and technology giants Toyota, Sony, Nintendo, and others, according to the company’s Q2 financial report.
The Bitcoin treasury company announced year-to-date (YTD) gains of about 187% in August, compared to the TOPIX 30’s 7.2% YTD appreciation.
Metaplanet 1-year stock performance, measured in Japanese yen. Source: Yahoo Finance
Metaplanet currently holds 18,888 $BTC in its corporate treasury, making it the seventh-largest publicly traded holder of the supply-capped coin, according to BitcoinTreasuries.
Originally a hotel operator, Metaplanet rebranded itself as a Bitcoin treasury company in 2024. The company now holds more $BTC than Coinbase, Tesla, the Hut 8 mining firm, and is Japan’s largest $BTC treasury company by $BTC holdings.
In July, Metaplanet CEO Simon Gerovich signaled that the company would use a portion of its $BTC stash to buy additional income-generating businesses, and floated the possibility of acquiring a digital bank or a business adjacent to digital assets and money.
The company’s executives have set a target to accumulate 210,000 $BTC by 2027, 1% of the currency’s total 21 million supply.
Magazine: US risks being ‘front run’ on Bitcoin reserve by other nations: Samson Mow
cointelegraph.com
