Japanese cryptocurrency firm Metaplanet has
Japanese cryptocurrency firm Metaplanet has significantly expanded its crypto portfolio following its recent US market debut. On December 23rd, the company announced that it had purchased 619.70 BTC for 9.5 billion yen ($60.7 million), increasing its total Bitcoin holdings to 1,761.98 BTC, currently valued at $169.2 million.
The acquisition came soon after
The acquisition came soon after Metaplanet raised 9.5 billion yen from EVO Funds through a dual-tranche bond issuance between December 17th and 20th, aimed at funding further Bitcoin investments. Despite this positive news, the company’s stock price fell by 0.93% on the day, closing at $22.59 (3,540 JPY).
However, this represents a significant
However, this represents a significant gain over the past year, with shares up over 2000%. Metaplanet’s Bitcoin strategy has been successful thus far, generating yields of 41.7% in Q3 2023 and an impressive 309.82% in Q4 2023. The company projects a 240% increase in annual revenue for 2024, with earnings expected to reach $5.8 million (¥890 million), compared to $1.7 million (¥261 million) in 2023.
Furthermore, they expect an operating
Furthermore, they expect an operating profit of $1.8 million (¥270 million) in 2024, compared to a $3 million (¥468 million) loss in 2023. To incentivize investors, Metaplanet offers a Shareholder Benefits Program, which includes entry into a Bitcoin lottery where 30 million yen worth of Bitcoin will be distributed to 2,350 shareholders through a lottery system.
The deadline to purchase shares to qualify for this program is December 26th.
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