Bitcoin's volatility casts shadow on Metaplanet's stock price surge

Metaplanet's stock price hit an all-time high amid the volatility of Bitcoin, thanks to a 25% increase in Bitcoin holdings last quarter and a focus on blockchain infrastructure. The stock rose more than 30% in three months, surpassing its peers, and investors in the Asia-Pacific region showed strong interest. However, analysts warn that Metaplanet is at risk due to its high correlation with Bitcoin price volatility and potential market pullbacks. The company is diversifying its business into the DeFi and digital identity solutions sectors to reduce risk.