Metaplanet Makes Everyone Feel Poor: Bitcoin Frenzy Sends Stock Soaring 1,500%
Since April 2024, Metaplanet’s approach has been simple: “See Bitcoin, buy Bitcoin.” There must be a giant red “Acquire More” button in the office (next to the espresso machine), because the company has transformed the dull business of holding cash into an Olympic sport of collecting cryptocurrency. The result? Its stock price pulled off a spectacular somersault and grew more than 15 times in less than a year—leaving traditional investors and mathematicians with simultaneous heart palpitations and existential questions.