Japanese Bitcoin-focused firm Metaplanet has made significant strides in expanding its crypto portfolio, particularly following its recent foray into the US market. As of December 23, the company, which is listed on the Tokyo Stock Exchange and trades on the US OTCQX Market as MTPLF, announced the acquisition of 619.70 BTC for 9.5 billion yen ($60.7 million). This latest purchase brings its total Bitcoin holdings to 1,761.98 BTC, currently valued at $169.2 million.
The decision to bolster its Bitcoin holdings came on the heels of a dual-tranche bond issuance conducted between December 17 and December 20, through which Metaplanet raised 9.5 billion yen from EVO Funds to facilitate additional BTC investments. Notably, this strategic move coincided with the company’s debut on the US OTCQX Market on December 19.
Despite these recent developments, Metaplanet’s stock value experienced a slight dip of 0.93% today, closing at $22.59 (3,540 JPY) based on data from Google Finance. Nonetheless, the company’s shares have seen an impressive surge of over 2000% year-to-date.
Beyond stock performance, Metaplanet’s Bitcoin investment strategy has proven to be lucrative, with the company reporting a yield of 41.7% between July and September 2024, followed by a substantial increase to 309.82% in the subsequent quarter. These impressive gains underscore the company’s adeptness at maximizing returns through active Bitcoin investments.
Looking ahead, Metaplanet has projected a remarkable 240% increase in annual revenue for 2024, with earnings expected to reach $5.8 million (¥890 million), marking a significant turnaround from the previous year’s $1.7 million (¥261 million). Additionally, the company anticipates an operating profit of $1.8 million (¥270 million), rebounding from a $3 million (¥468 million) loss recorded in 2023.
CEO Simon Gerovich has also extended a reminder to investors regarding the company’s Shareholder Benefits Program, emphasizing that December 26 is the final date to purchase shares and qualify for the program. The initiative, which was launched in November, offers unique rewards such as entry into a Bitcoin lottery where 30 million yen worth of Bitcoin will be distributed to 2,350 shareholders through a lottery system. This program aims to attract long-term investors and enhance the company’s shareholder engagement.
Moreover, the Shareholder Benefits Program is supported by a partnership with SBI VC Trade, a subsidiary of Japan’s financial behemoth SBI Holdings. This collaboration underscores Metaplanet’s commitment to fostering strong relationships with its investors and incentivizing continued support for its growth initiatives.