Michael Saylor advised his followers to monitor Metaplanet’s progress after a massive 40% increase in the stock price over the previous week.
MicroStrategy, Metaplanet, a company based in Asia, has experienced an unprecedented increase in its stock price, which has risen by an additional 13% to a record high of JP¥ 6,650. Michael Saylor has publicly commended the company for consistently executing its Bitcoin strategy, which has resulted in weekly gains of 36% and monthly gains of 81%.
Michael Saylor endorses Metaplanet
Michael Saylor, the Executive Chairman of Microstrategy, expressed his satisfaction with the recent Metaplanet stock movement, which has experienced a precipitous rally from under ¥1000 in October 2024 to over ¥6,650. The stock price has increased by 81% in the past month, and its one-year returns are a preposterous 4,000%. Saylor requested that his followers monitor the Japanese organization’s advancements in a missive posted on the X platform.
Metaplanet has significantly impacted the Nikkei and the Japanese stock market in recent months. Michael Saylor was intrigued by the Metaplanet stock, which closed today’s session 13% higher and ranked Japan’s 19th most liquid stock. The company’s Bitcoin strategist, Dylan LeClair, observed that it recorded a trading volume of ¥ $ 42.6 billion (approximately $277 million), illustrating its increasing influence in the Japanese financial markets.
Additionally, Simon Gerovich, the company’s CEO, has criticized JPMorgan for shorting Metaplanet stock. Gerovich wrote the following after this colossal rally:
“My heartfelt condolences to Morgan Stanley for their short position in Metaplanet. However, it appears he still has a short position of over 1 million shares”.
Bitcoin Purchase Plan of Four Billion Yen
Metaplanet announced the issuance of its sixth unsecured corporate bond earlier this week, raising ¥4 billion at a 0% interest rate. Michael Saylor’s comment follows this announcement. The company’s robust credit profile and financial stability are reflected in the bond, issued without collateral or guarantees.
By bypassing the waiting period associated with exercising stock acquisition rights, this funding enables Metaplanet to acquire Bitcoin, thereby promptly expediting its Bitcoin Treasury strategy. The company underscored its dedication to utilizing capital markets to improve its treasury and provide shareholders with increased value in a statement. Metaplanet also disclosed its intention to acquire 21,000 Bitcoins by the conclusion of 2026, two weeks ago.
MicroStrategy Maintains BTC Accumulation
MicroStrategy, which Michael Saylor leads, has also maintained its Bitcoin acquisitions. MicroStrategy announced on Monday that it had acquired 7,633 BTC for an investment value of $742 million. This transaction increased its total Bitcoin holdings to 478,740 BTC.
At the time of publication, the Bitcoin price is trading at $96,226, a 2% decrease, with a market capitalization of $1.90 trillion. The 24-hour liquidations have increased to $43 million, with the extended liquidations exceeding $37 million. The daily trading volume has increased by 8.7% to $37 billion.
Despite the institutions’ accumulation trend of BTC, this recent decline has spurred speculation. Nevertheless, investors seem compelled to remain on the sidelines due to the ongoing macroeconomic concerns and the impending US CPI inflation data.
