Metaplanet's stock price has risen by more than 1,000% since it launched its Bitcoin investment strategy, becoming the best performing Japanese stock this year

BlockBeats reported that on November 3, Simon Gerovich, CEO of Metaplanet, a Japanese listed company, recently said that the company's adoption of a Bitcoin investment strategy has caused its stock price to rise by about 1,017% so far this year, making it the best performing Japanese stock in 2024.

The company launched its Bitcoin plan in April and has become the second largest corporate holder of Bitcoin in Asia, second only to Boyaa Interactive. According to Yahoo Finance, its stock price has risen 740% in six months, from $190 in April to $1,596 at the close of Friday.

The company currently holds 1,018.17 BTC, with an average purchase price of $61,800, and a floating profit of more than $6 million based on the current price of BTC.