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U.Today - Michael Saylor, founder and executive chairman of Bitcoin-driven company Strategy, has published a tweet calling out another corporate Bitcoin buyer – Metaplanet and its chief executive officer Simon Gerovich – as if hinting that it is time the company made another BTC purchase.
Saylor highlighted Metaplanet’s stock price increase after the company announced a major Bitcoin acquisition earlier this week.
Saylor spotlights Bitcoin buyer Metaplanet’s stock surge
Michael Saylor shared a TradingView chart showing the movement of Metaplanet (TSE)’s stock price. The graph reveals that over the past 24 hours, TSE soared by roughly 10.6% to 783 JPY per share. This reflects investor optimism regarding the company’s recently adopted Bitcoin-focused strategy.“What’s up with Metaplanet, Simon @Gerovich?” Saylor tweeted. Company boss Simon Gerovich quoted Saylor’s tweet, responding to it and stressing the key importance of Bitcoin for Metaplanet’s success now: “Bitcoin is the key. Metaplanet unlocked.”
On March 19, Metaplanet announced the acquisition of 1,004 BTC for approximately $104.3 million, raised from investors by issuing debt as the company has adopted Saylor’s company’s strategy of accumulating BTC using raised funds. Metaplanet now holds 7,800 BTC in total worth $802.9 million.
Strategy buys more BTC and gets slammed with lawsuit
As for Strategy, on the same day, it also made public a recent acquisition of 7,390 Bitcoins, paying roughly $764.9 billion for it. After this purchase, Saylor’s firm now holds 576,230 BTC valued at $60,564,308,412.Later that day, Saylor bragged on his X account that Strategy had delivered a 4.8% BTC yield, driving $2.7 billion in the BTC dollar gain equivalent. However, as reported by U.Today, Strategy and its key executives – Chairman Saylor, CEO Phong Le and CFO Andrew Kang – have been slammed with a class action lawsuit from a group of MSTR investors, alleging that Strategy provided misleading statements regarding its Bitcoin investment strategy.
Strategy promised to put up a vigorous defense against the claims outlined by the plaintiffs. MSTR dropped 2% in premarket trading yesterday on the lawsuit news.