Tokyo-listed Metaplanet Inc is facing mounting pressure as its ambitious Bitcoin
BTC
$111 086
24h volatility:
3.0%
Market cap:
$2.21 T
Vol. 24h:
$76.07 B
strategy appears to have lost investor confidence. The company’s enterprise value has fallen below the worth of its Bitcoin reserves, according to a recent report by Bloomberg.
The company began purchasing Bitcoin in April 2024 as a hedge against Japan’s long-standing economic challenges, like soaring public debt and a weakening yen. It drew inspiration from MicroStrategy’s high-profile playbook and turned Bitcoin into a strategic reserve asset.
Initially, the move paid off. The company’s stock surged to record highs by mid-June, trading at a hefty premium
We współpracy z: https://www.coinspeaker.com/metaplanet-bitcoin-accumulation-fails/
