TOKYO: 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 per cent 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 US$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.
