Metaplanet expects ¥890M ($5.8M) in revenue for FY2024, marking a 240% increase from last year.
Bitcoin put options generated ¥520M, becoming a key revenue source.
Japanese investment firm Metaplanet expects to achieve its first consolidated operating profit since 2017. The Tokyo-based firm projects ¥890 million ($5.8 million) in revenue for the fiscal year ending December 31, 2024. This marks a 240% increase from the ¥261 million reported last year. Operating profit is anticipated to reach ¥270 million, a sharp recovery from last year’s ¥468 million loss.
*Metaplanet Projects First Fiscal Year Operating Profit Since 2017* pic.twitter.com/oYNKOtNatR
— Metaplanet Inc. (@Metaplanet_JP) December 18, 2024
Metaplanet’s Bitcoin-related activities are driving its financial turnaround. The firm earned ¥520 million by selling Bitcoin put options, which provide a guaranteed selling price to investors. Metaplanet earns premiums from these contracts while supporting its strategy of accumulating Bitcoin at pre-agreed prices.
The company added Bitcoin to its balance sheet in April as a treasury asset. This decision aimed to hedge against the weakening Japanese yen. Metaplanet also benefits from its hotel business, operated through its subsidiary Wen Tokyo Co. The Royal Oak Hotel in Tokyo’s Gotanda district played a key role in the company’s improved performance.
Metaplanet Boosts Bitcoin Strategy
Looking ahead, Metaplanet plans to formalize Bitcoin accumulation and management as a standalone business line. It will utilize financial instruments such as loans, equity, and convertible bonds to increase its Bitcoin holdings. The firm intends to maintain Bitcoin put option sales as a key revenue driver.
The company recently secured a license to launch a Japanese version of Bitcoin Magazine. This initiative aims to generate new revenue streams through Bitcoin-related marketing and educational activities. Metaplanet currently holds 1,142 Bitcoin, valued at $119.4 million, making it Asia’s second-largest corporate Bitcoin holder after Boyaa Interactive.
To support its Bitcoin strategy, Metaplanet issued its fourth bond offering on December 16, raising ¥4.5 billion ($30 million). The firm also plans a ¥5 billion private bond placement to further its Bitcoin acquisitions.
Metaplanet’s pivot to Bitcoin aligns with a broader trend among corporations leveraging cryptocurrency for growth. Other major holders, like MicroStrategy, have also expanded their Bitcoin portfolios. MicroStrategy recently added 15,350 Bitcoins, bringing its total holdings to 439,000 Bitcoins, valued at over $46 billion.
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