Metaplanet and Semler Scientific shares hit double- and triple-digit growth since adopting MicroStrategy’s Bitcoin playbook.
Executives drawn from Semler Scientific and Metaplanet hail MicroStrategy’s Bitcoin purchase playbook. The inspiration to deploy such in the two companies catapulted both from zombie status, with their share prices soaring.
Semler Scientific Leap from Zombie Status
Speaking at the Bitcoin Conference in Nashville, Eric Semler admitted hearing MicroStrategy chair Michael Saylor mention zombie companies. The Semler Scientific chair confesses realizing that the California-based medical technology and software company is among the zombies. He cites the struggle to secure love within the stock market, portrayed in poor performance despite its cash-rich status.
Saylor repeatedly indicated that Zombie companies only earn enough to sustain operations and service debts. However, such companies perennially lack excess capital they can leverage to spur growth. Consequently, they are often closer to plunging into insolvency.
Semler admits the discovery of the company’s status convinced him to replicate the Bitcoin hodl playbook that Saylor orchestrated at MicroStrategy. As such, he recalls convincing the board to use the cash best to acquire Bitcoin as a treasury reserve.
Semler Scientific’s share has surged 26% in the past three months. Notably, Yahoo Finance data shows the stock rose from $23 on May 24 to double at $46 by June 12. The rise is attributed to the Bitcoin purchase executed on May 28, Bitcoin Treasures shows.
Metaplanet Embraces Bitcoin as Apex Monetary Asset
Metaplanet chief executive Simon Gerovich admits witnessing signs of a zombie company nature before adopting Bitcoin. The executive recalls struggles with the balance sheet, staff cuts, and debt payment while continually seeking business.
Gerovich hails the eventual realization by the Japanese investment company that adopting Bitcoin would strengthen the balance sheet. The approach would simultaneously reduce the vulnerability to the accelerated depreciation of the Japanese yen.
Gerovich confesses that, like MicroStrategy, Metaplanet realized Bitcoin is an apex monetary asset and a great addition to the treasury. Consequently, the move to own and purchase additional Bitcoin was an opportunity Metaplanet would let pass.
While Metaplanet is slightly down on Bitcoin investment since its debut purchase on April 23, its stock price has increased by 420% in the past three months to exchange hands at ¥1510. Such represents 788% up in the past six months, adding the ¥1340, Yahoo Finance shows.
Executives drawn from the two companies indicated they embrace the extreme volatility from exposure to Bitcoin price movement. Semler considers the adoption of BTC to yield a unique shareholder base compared to what they had prior, with the heavy volume creating opportunities.
Semler is optimistic that the improving liquidity could onboard Semler’s stock to trade within the options market. In support, Gerovich considers such will allow Metaplanet to offer the convert issuance.
Gerovich observes that if it were not for MicroStrategy and Saylor’s talk on Bitcoin, Metaplanet would still carry the zombie status. According to Bitcoin Treasuries data, MicroStrategy has the largest Bitcoin reserve with 226,331 BTC valued at $15.068 Billion. MicroStrategy deserves credit for paving the way and inspiring other corporations to replicate.
Metaplanet Unveils Bitcoin Proof of Reserves
Days before the Bitcoin Conference, Metaplanet confirmed partnering with Hoseki to unveil the Bitcoin proof of reserves system. The Tokyo Stock Exchange-listed company seeks to tap into Bitcoin verification solutions. The collaboration will enhance the trust and transparency desired in Metaplanet’s Bitcoin holdings via Hoseki Verified.
Hoseki chief executive Sam Abbassi indicated that companies such as Metaplanet will define the future of Bitcoin space. The executive pledged to support Metaplanet in utilizing the Bitcoin monetary network to optimize radical auditability and transparency.
Hoseki Verified comprises a publicly accessible dashboard that offers real-time visibility into BTC holdings and showcases verified assets with the custodians, including BitGo, Gemini, and Coinbase. The initiative will facilitate real-time verification of the integrity of the MetaPlanet’s BTC holdings.
The Metaplanet’s Bitcoin strategy director, Dylan LeClair, considers one cannot overstate the importance of transparency as adoption proliferates globally. The partnership with Hoseki is guided by the don’t trust and verify ethos to deliver a transparent yet auditable ledger.