Bitcoin hoarder's stock soars 4,000% in Japan on crypto rally
The ripple effects of U.S. President Donald Trump's pro-crypto agenda are fueling a surge in Bitcoin demand in Japan, where one hotelier's pivot to stockpiling the cryptocurrency is delivering eye-watering returns for shareholders.
Shares of Metaplanet are up more than 4,000% over the past 12 months, the largest gain among all Japanese equities in that period and one of the highest globally, according to data compiled by Bloomberg. Bitcoin, itself, hit a record high of $109,241 on Jan. 20 as Trump was sworn in for his second term, although it's since erased some of those gains as his trade policies fanned global instability.
Metaplanet is one of a number of outfits around the world that aim to emulate the success of Michael Saylor's Strategy, formerly known as MicroStrategy. The Tysons Corner, Virginia-based company has morphed into a leveraged Bitcoin proxy and behemoth after accumulating more than $45 billion of the token.
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