#StrategyBTCPurchase
Metaplanet shares surge after plan to purchase $5.4 billion worth of Bitcoin
Japanese Metaplanet shares surged after announcing a massive plan to buy 210,000 Bitcoins worth $5.4 billion, placing it on track to become the second largest publicly traded company holding Bitcoin in the world.
Shares of Japanese investment firm Metaplanet jumped at market opening after announcing its plan to raise $5.4 billion aimed at purchasing Bitcoin.
Metaplanet's stock (ticker: 3350T) rose more than 12% in the trading session on June 9, trading at 1,505 yen ($10.42), according to Google Finance data. The stock peaked during the session at 1,641 yen ($11.36), an increase of 22%.
In a statement released on June 6 regarding the stock purchase rights program, the company updated its plan to acquire Bitcoin
BTC
107,759 US$
, raising its target from 21,000 Bitcoins to 210,000 Bitcoins by the end of 2027.