SUMMARY
- Metaplanet Inc., Japan’s top-performing stock, joined CoinShares’ Blockchain Global Equity Index.
- The firm holds 1,018 BTC as a hedge against yen volatility, totaling over $70 million.
The Blockchain Global Equity Index (BLOCK) from CoinShares is the first global equity index to list Japanese investment manager Metaplanet Inc. (3350), which owns more than 1,000 bitcoin. In May, this Tokyo-based company, headed by CEO Simon Gerovich, decided to store bitcoin as a hedge against yen volatility. As of right now, it has 1,018 BTC, which is worth almost $70 million. With gains of around 840% this year, Metaplanet’s stock is the best-performing equity in Japan in 2024, according to Investing.com. The benchmark Nikkei 225 Index increased 1.4% on Tuesday, while shares closed at 1,695 yen ($11.14), a 6% increase.
Inclusion in the BLOCK Index may attract increased demand for Metaplanet’s stock as investors who follow the index add it to their portfolios. This index, managed by CoinShares, features 45 companies deeply engaged in the cryptocurrency and blockchain sectors. Notable listings include crypto exchange Coinbase (COIN), bitcoin miners Marathon Digital (MARA) and Riot Platforms (RIOT), and software company MicroStrategy (MSTR), which holds the largest bitcoin reserve among publicly traded companies, with 252,220 BTC on its balance sheet.
Metaplanet’s strategic inclusion highlights the expanding interest in firms with significant blockchain involvement. BLOCK acts as a benchmark, grouping companies with substantial commitments to cryptocurrency and digital assets. By adopting a bitcoin-centric strategy, Metaplanet aligns itself with global trends favoring digital assets, underscoring its growth within the blockchain sector. This positioning strengthens its appeal as both a digital asset holder and a leading player among Japan’s equity markets.
Analysts suggest that Metaplanet’s alignment with bitcoin assets could prove advantageous amid currency volatility, especially as the yen continues to experience fluctuations. Bitcoin holdings offer a diversified hedge, appealing to investors keen on stable long-term digital assets. Metaplanet’s recent performance also reflects its proactive stance on securing growth through blockchain technology, a move that aligns it with other high-profile companies in the sector.
With its inclusion in the BLOCK Index, Metaplanet’s strategy positions it favorably for future growth, particularly as the global market increasingly acknowledges digital assets as a core part of financial portfolios. As the firm continues to enhance its blockchain profile, it becomes an attractive option for investors seeking exposure to both Japanese equities and global cryptocurrency initiatives.