Metaplanet shares soar as crypto rally lifts bitcoin treasury stocks
Japanese firm Metaplanet's shares surged amid a broader crypto rally that also boosted other U.S.-listed crypto stocks.Summary
Japanese bitcoin treasury firm Metaplanet experienced a significant surge in its stock price, jumping 10.7% on Tuesday, tracking a general cryptocurrency market rally and strong performance among U.S. crypto-related stocks. This followed a 19.17% jump in its U.S.-traded shares the previous day. Metaplanet recently disclosed that its total Bitcoin holdings reached 35,102 BTC, valued at approximately $3.29 billion. Other bitcoin treasury firms like MicroStrategy and Mara Holdings also saw gains, while major cryptocurrencies like Bitcoin and Ethereum posted increases. The rally was attributed to early-year repositioning and increased focus on risk assets. Furthermore, U.S. crypto stocks rallied, with Bakkt surging over 31%, KindlyMD gaining significantly, and Coinbase rising after Goldman Sachs upgraded its rating to "Buy."
(Source：The Block)