Bitcoin-Friendly Metaplanet Enters Major CoinShares’ BLOCK Index

Metaplanet is now a constituent of the BLOCK index, hosted by CoinShares as a result of its growing exposure to Bitcoin

Metaplanet Inc., a Tokyo investment firm, has become Japan’s top-performing stock this year with an impressive 840% surge. This surge is largely driven by its holding of over 1,000 Bitcoins. On Tuesday, the firm announced its inclusion in the CoinShares Blockchain Global Equity Index (BLOCK), placing it among crypto powerhouses like Coinbase and MicroStrategy.

Microplanet’s Bold Bets on Bitcoin Fuel Record Gains

In May, Metaplanet CEO Simon Gerovich made an unconventional decision to embrace Bitcoin as a reserve asset to counterbalance the yen’s notorious volatility. This bold decision quickly turned out to be a wise move, as it helped the firm navigate market volatility effectively.

The firm’s Bitcoin holdings now amount to 1,018 BTC, valued at over $70 million. As interest in Gerovich’s strategy grew, Metaplanet’s stock followed suit. The financial product class closed at 1,695 yen ($11.14), up 6% on Tuesday further solidifying its 840% year-to-date gain.

Joining the CoinShares BLOCK Index brings Metaplanet a new level of visibility. The BLOCK Index features 45 prominent companies in crypto and blockchain, including Coinbase, Marathon Digital and Riot Platforms, MicroStrategy. 

This curated roster provides investors with access to some of the sector’s most influential players. Metaplanet’s entry could mean increased demand, as investors aligned with the index may now look to add the stock to their portfolios.

Metaplanet is Redefining Crypto Landscape in Japan

With Metaplanet’s rapid rise, Japan’s investment landscape showcases a new openness to crypto assets. As the company thrives by holding Bitcoin, both local and international investors now see Bitcoin’s value as a strategic tool for mitigating fiat currency risks. 

Metaplanet’s success indicates a change in Japan, where digital assets are increasingly seen as trustworthy financial tools. This remarkable growth demonstrates that bold strategies can yield positive results. Also, Metaplanet is establishing new benchmarks in Japan’s stock market by joining the BLOCK Index.

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