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Metaplanet stock (MTPLF) debuts on OTCQX, boosting Bitcoin strategy with 1,142 BTCs and a 2,068% YTD rally in the U.S. market.
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Metaplanet\'s Bitcoin strategy powers 2,068% stock rally; OTCQX debut positions it as a leading crypto investment opportunity.
Metaplanet Inc. (Tokyo: 3350), a Japanese company that has earned a huge reputation in the crypto industry through its Bitcoin strategy, has announced its debut in the United States market. The company announced earlier today that its shares will commence trading on the United States OTCQX, a top-tier marketplace for over-the-counter stocks, on Thursday, December 19, 2024.
The Metaplanet shares will trade on OTCQX under the ticker MTPLF, which will complement its stock trading in Japan. According to Simon Gerovich, the CEO of Metaplanet, the listing of the company’s stocks at OTCQX will help strengthen its Bitcoin strategy in the long haul.
Metaplanet and The Bitcoin Strategy
Following the adoption of the Bitcoin strategy earlier this year, which has seen the company accumulate over 1,142 BTCs, Metaplanet is projecting the first fiscal year operating profit since 2017. Furthermore, the company’s stock market has rallied like a meme coin this year, with a return of about 2,068 percent year-to-date (YTD) to trade at about ¥3,685 at the time of this writing.
Having added the Bitcoin treasury operations as the official new business line, Metaplanet is well positioned to attract more investors akin to MicroStrategy Inc. (NASDAQ: MSTR).
Late last month, Metaplanet announced the issuance of moving strike stock acquisition rights to raise ¥9.5 billion, equivalent to about $62 million, for accelerated Bitcoin accumulation.
Market Impact
The relentless Bitcoin accumulation by Metaplanet has strengthened the Bitcoin market in the Asian region. Moreover, Bitcoin has been identified as a digital gold and more countries are likely to follow the United States if the upcoming Trump administration implements a strategic BTC reserve.
The ongoing mainstream adoption of Bitcoin by institutional investors has fueled the ongoing macro rally above $100k for the first time since its inception.