Cryptocurrencies
Bitcoin Hoarder’s Stock Soars 4,800% in Japan on Crypto Rally
- Metaplanet reports operating profit after years of losses
- Donald Trump’s embrace of crypto has seen Bitcoin set records
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The ripple effects of US President Donald Trump’s pro-crypto agenda are fueling a surge in Bitcoin demand in Japan, where one hotelier’s pivot to stockpiling the cryptocurrency is delivering eye-watering returns for shareholders.
Shares of Metaplanet Inc. are up around 4,800% over the past 12 months, the largest gain among all Japanese equities in that period and one of the highest globally, according to data compiled by Bloomberg. Bitcoin itself hit a record high of $109,241 on Jan. 20 as Trump was sworn in for his second term, although it’s since erased some of those gains as his trade policies fanned global instability.