Reported about 1 month ago
Metaplanet Inc., a Japanese hotelier that pivoted to stockpiling Bitcoin, has seen its shares skyrocket by about 4,800% over the past year, driven by heightened demand for cryptocurrency following favorable US policies. The company, led by former Goldman Sachs trader Simon Gerovich, hastened its transformation to focus on Bitcoin amid pandemic challenges, attracting nearly 50,000 shareholders, mostly retail investors. Metaplanet aims to significantly increase its Bitcoin holdings and rebrand its Tokyo hotel as 'The Bitcoin Hotel,' while also facing the volatility of the crypto market.
Source: YAHOO