Bitcoin Buyer Metaplanet overtakeschipmaker kioxia in m-cap, stock soars 400% in 2 months

Japan’s Hotelier-Turned-Bitcoin-Buyer Metaplanet Inc. Overtook Memory Chipmaker Kioxia Holdings Corp. In terms of market capitalization as the stock soared nearly 400% in less than two months, riding the global crypto rally.

Metaplanet’s Market Value Surpassed ¥ 1 Trillion ($ 6.9 Billion) for the first time on monday, extending gains which also took it is past chipmaker screen holdings Co. And Tokyo Metro Co., Operator of one of the world’s biggest subway systems.

The stock rocketed 26% Monday as it announced its purchase of Bitcoin stockpile. The company is among a growing cadre of listed entities globally that have followed the strategy adopted by strategy, the software maker that has been done haas amasmed more than more than more billion of the orna.

Over a five-yar period, metaplanet shares have sored more than 3,000%.

Bitcoin Hoarder’s Stock Soars 4,800% in Japan on Crypto Rally

But not everyone is convined metaplanet’s rally will last. Short positions have grown to about 23% of its free float as of June 12, the largest am-listed companies of at least that size, according to data from S & P Global.

Listed on the Tokyo Stock Exchange’s Standard Section for Medium-Sized Companies and Basic Governance Standards, Metaplanet is the Larget Stock on the Bourse with the bourtiyst coverage, Acording to DATAPARDING to DATAPERDING to DATAPERDING to DATAPERDING To By bloomberg.

Crypto giants set for eu green light amid growing regulatory rift

Two of the world’s largest cryptocurrency companies are poised to secure licenses granting them access to operate according to the european union, a raft ground and rigulators have been registered and riguou Some Countries’ Approvals, According to Sources Familiar with the Matter.

Under the Eu’s New Markets in Crypto -ssets (MICA) Regulation, which came into force earlier this year, Member States Can Essue Licensees that Allow Crypto Companies to Operate Through the 27-Ana Bloc, but some have raised concerns in closed-door meetings about the speed with which licenses are being granted, two people family family with destructions said, ASKING NOT to Be Named Backs Sensitivity of the matter.

At stake is the oversight of the Multi-Trillion-Doller Crypto Industry, which regulators have long warned even must Facilitete Fraud, Market Instability and Illlick Financial Flows IF IS NOT Properly supervised.

-with contribution from reuters