Metaplanet Lists Shares on US OTCQX Under Ticker MTPLF
Bitcoin-focused investment firm Metaplanet, also known as Japan's MicroStrategy, has begun trading its shares on the US OTCQX under the ticker MTPLF. This follows their declaration as a Bitcoin Treasury firm.
Shortly after CEO Simon Gerovich's announcement, Metaplanet's stock rose 7% to close at 3,770 JPY. The stock previously reached an all-time high of 4,240 JPY, valuing the company at over $1 billion. Since Bitcoin adoption in May, shareholders have seen returns of 2,200% year-to-date.
With its Bitcoin adoption strategy and stock rally, Metaplanet aims for profitability for the first time since 2017. As of press time, MTPLF is trading at $26.3 on the OTCQX market.
Japan's MicroStrategy remains committed to a "Bitcoin First, Bitcoin Only" approach, continuing its aggressive Bitcoin acquisition plan as part of treasury management. Recently, the company introduced bonds worth 4.5 million JPY to accelerate its Bitcoin acquisition plans.
Metaplanet's strategy is particularly relevant given the yen's weakness, currently trading around 155 to the US dollar. The company asserts that Bitcoin acquisitions are crucial for safeguarding and enhancing asset value in the current financial landscape.
Metaplanet Eyes Big Opportunity in the US Market
In response to strong international demand, Metaplanet has listed its shares on the OTCQX market in the U.S., expanding access to its Bitcoin-focused investment strategy for institutional and retail investors.
CEO Simon Gerovich emphasized the strategic importance of this move in enhancing global investor confidence, attributing the company's rising popularity to its innovative Bitcoin Treasury Strategy. Gerovich stated:
“We are pleased to share that, commencing December 19 (US time), Metaplanet shares will trade on the US OTCQX market under the ticker 'MTPLF'. This marks a key step in expanding access for global investors to join our journey as Asia’s first Bitcoin Treasury Company.”
To increase its Bitcoin holdings, the company is leveraging price volatility to trade options, generating sustainable profits alongside core Treasury activities.