🎯Metaplanet ignores Bitcoin price pullback and makes the largest BTC purchase in history
Bitcoin prices fell nearly 10% last week, causing market sentiment to be cautious. But Japan's Metaplanet boldly increased its holdings, purchasing nearly 620 bitcoins, doubling the value of its total Bitcoin holdings to $168 million, which is also Metaplanet's largest single Bitcoin purchase to date.
It is reported that Metaplanet raised funds for its Bitcoin investment through a series of capital market activities, including the issuance of stock rights and zero-coupon bonds. In particular, on December 20, 2024, the company successfully raised 5 billion yen, or approximately $31.9 million, through the issuance of the fifth series of ordinary bonds. The company also announced that it would issue a 4.5 billion yen bond, or approximately $28.7 million, which is scheduled to mature on June 16, 2025.
The report stated that between October and December 2024, Metaplanet's Bitcoin yield surged by nearly 310%, and its Bitcoin holdings increased significantly relative to its fully diluted outstanding shares. Despite the overall bearish market sentiment, Metaplanet has positioned itself as a key player in corporate Bitcoin investment.
Metaplanet, known as the "MicroStrategy of the East," has been accumulating Bitcoin since May, following in the footsteps of MicroStrategy. The company revealed that it expects to see its first profit in nearly seven years thanks to its earlier decision to include Bitcoin on the company's balance sheet.
Metaplanet's revenue is expected to increase from 261 million yen to 890 million yen (about $5.8 million) in fiscal 2024, and operating profit will reach 270 million yen. This expectation marks a major financial turnaround for the company after years of losses.
Metaplanet successfully generated 520 million yen in revenue for the company through its innovative use of Bitcoin put option strategies. In addition, the company also benefited from the strong performance of its Royal Oak Hotel in Tokyo.
This series of actions by Metaplanet shows that even in market fluctuations, the company is still optimistic about the potential of Bitcoin and is taking positive measures to enhance its influence in the cryptocurrency field.
