What It Means for Investors
In the latest development, Metaplanet announced a 10-to-1 stock split, which will take effect on April 1. The Tokyo-based company first started buying Bitcoin in April 2024.
Tokyo-based Metaplanet began buying bitcoin in April 2024 and has since acquired 2,031 bitcoins worth nearly $200 million. These bitcoin purchases are the main reason why Metaplanet became the best performing Japanese stock last year, with value rising by 3,900%. This is Asia’s leading Bitcoin game with 1,762 bitcoins and ambitious goals.
The decision is to split 10 shares into one after the reverse stock split in August 2024. Since then, the stock price has risen sharply, bringing “a huge financial burden” to investors. It is worth noting that the move will increase the total number of issued shares from approximately 39 million to nearly 392 million, according to the notice.
“To address this, we decided to do a stock split to lower the price of each trading unit, thereby increasing liquidity, expanding our investor base and strengthening ties with a wider range of shareholders,” the company noted.
Metaplanet’s share price fell 8.41% after the company announced its share split.
