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CryptoXTimes > Article > News > Bitcoin Leader Metaplanet Joins CoinShares Index, Surpassing 1,000 BTC
NewsCrypto

Bitcoin Leader Metaplanet Joins CoinShares Index, Surpassing 1,000 BTC

Metaplanet joins CoinShares Index, surpasses 1,000 BTC holdings.

Nayab Fatima
Last updated: November 5, 2024 8:28 pm
Nayab Fatima 8 months ago
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Bitcoin Leader Metaplanet Joins CoinShares Index, Surpassing 1,000 BTC

The CoinShares Blockchain Global Equity Index (BLOCK Index) has welcomed Japanese investment firm Metaplanet as its first appearance in a globally recognized equity index for cryptocurrency and blockchain companies.

CoinShares manages the BLOCK Index, which tracks 45 publicly traded global companies including Coinbase, Riot Platforms and MicroStrategy.

Bitcoin Treasury Company Metaplanet Excels

Metaplanet said in a Nov. 5 statement that it is pleased to be included in the BLOCK Index, and became Japan’s leading Bitcoin Treasury Company. Simon Gerovich, Metaplanet’s Representative Director, hailed the milestone as a token of the company’s unwavering pursuit of shareholder’s interests by meting out disciplined Bitcoin accumulation. 

Recently, the firm’s Bitcoin holdings have reached over 1,000 BTC equivalent to $70 million. That total is now 1,018 BTC after its latest purchase—156.7 BTC for approx. $10.4 million. Bloomberg data led to the estimated Metaplanet’s initial weight in the index around 2.5%, subject to the BLOCK Index’s selection criteria, including earnings potential and business sustainability.

Metaplanet reported a Bitcoin yield of 155.8% for the month as of Oct. 28, and announced the new product Wednesday, sending its shares 6.20% higher to 1,695 yen. Metaplanet has rocketed to become Japan’s top performing stock of the year with more than 840% growth after the Japanese stock exchange reopened Wednesday morning, according to Investing.com. 

In its attempt to deal with Japan’s economic issues, Metaplanet has taken on its own Bitcoin investment strategy in May 2024 which was often compared to US firm MicroStrategy.

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TAGGED: Bitcoin, Japan's, Metaplanet, MicroStrategy
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