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Bitcoin-Focused Metaplanet to Spit Stock 10:1 After 3,900% Price Surge
The Tokyo-based company has accumulated more than 2,000 bitcoin.
What to know:
- Metaplanet will conduct a 10-for-1 stock split effective April 1.
- The split comes after a 3,900% stock surge and aims to lower the minimum investment cost and improve market liquidity.
Following a rocketing higher in its stock price since beginning to add bitcoin to its balance sheet less than a year ago. Metaplanet has announced a 10-to-1 stock split set to take effect on April 1.
The Tokyo-based firm first started buying bitcoin in April 2024 and since has accumulated 2,031 tokens worth nearly $200 million. The purchases were the driving factor in Metaplanet being the best-performing Japanese equity over the past 12 months with a gain of 3,900%.
STORY CONTINUES BELOW
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That price rise has created a “substantial financial burden for investors,” the company said in a press release announcing the split.
“To address this, we have decided to conduct a stock split to lower the price per trading unit, thereby improving liquidity, expanding our investor base, and strengthening our connection with a broader range of shareholders,” the company continued.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
