Metaplanet Doubles Bitcoin Holdings Amid Market Gains

Metaplanet has significantly increased its Bitcoin holdings, investing an additional 1,088 BTC worth $117.3 million, bringing its total to 8,888 BTC. Despite this bold move, shareholders overwhelmingly rejected a proposal for the firm to include Bitcoin on its balance sheet. This follows recent aggressive Bitcoin accumulation through zero-coupon bond funding, leading to impressive returns and stock price growth exceeding 200%. While Metaplanet embraces Bitcoin, CEO Simon Gerovich believes the inherent volatility of Bitcoin actually fuels growth.