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 big Bitcoin acquisition earlier this week.
Saylor spotlights Bitcoin buyer Metaplanet’s stock surge
Michael Saylor shared a TradingView chart showing the Metaplanet (TSE) stock price movement. 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. The 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.
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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 vigorous defence against the claims outlined by the plaintiffs. MSTR dropped 2% in pre-market trading yesterday on the lawsuit news announcement.
