Metaplanet Inc. plans to increase its Bitcoin holdings by 470%, aiming to reach 10,000 BTC this year after a successful 2024.
Author: Sahil Thakur
Written On: Mon, 06 Jan 2025 07:45:15 GMT
Metaplanet Inc. plans to increase its Bitcoin holdings by 470%, aiming to reach 10,000 BTC this year as it continues to build on an accumulation strategy first undertaken in April.
“Last year was transformational, as we broke records, expanded our Bitcoin treasury, and reinforced our position as Asia’s leading Bitcoin Treasury Company,” Gerovich said. “This year, we’re laser-focused on execution and driving even greater value for our shareholders.”
Additionally, he stated that Metaplanet would use its partnerships to propel Bitcoin adoption both in Japan and worldwide. Further, the company plans to seek out opportunities to expand Metaplanet’s influence within Japan and the broader Bitcoin ecosystem.
In November, the firm finalized an exclusive deal with BTC Media to launch Bitcoin Magazine in Japan. This partnership aims to provide high-quality, localized content for Japanese Bitcoin enthusiasts. It will also include interviews with prominent Japanese Bitcoin figures. Additionally, it plans to release special edition publications and host interactive online events.
According to Bitcoin Treasuries, Metaplanet holds 1,762 Bitcoin worth about $174.5m. On Dec. 23, 2024, the firm made its biggest purchase yet, acquiring 619.7 Bitcoin for roughly $60m. This deal far surpassed its previous record in October when its bought 159.7 BTC, nearly quadrupling that amount.
Metaplanet generates a large portion of its revenue from Bitcoin-related activities, particularly by selling Bitcoin put options. This strategy alone earned 520m yen, boosting the company’s financial outlook.
Additionally, its hotel business has strengthened its financial performance. Through its subsidiary, Wen Tokyo Co., Metaplanet operates the Royal Oak Hotel in Tokyo’s Gotanda district.
Last month, the Tokyo-based firm projected revenue of 890m yen ($5.8m) for the fiscal year ending Dec. 31, a sharp increase from last year’s 261m yen. It also expects an operating profit of 270m yen, a significant turnaround from the 468m yen loss in 2023.
Real voices. Real reactions.
Add your reaction to this story:
Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.
Eric Trump-Linked Amerian Bitcoin Corp Raises $220M for Crypto Mining Push
Robinhood Launches Tokenized Stocks and Its Own Layer-2 Blockchain in Major EU Expansion
Quant Network Launches Quant Fusion for Interoperability
Kadena Launches Chainweb EVM Testnet with Over 50 Projects Committed
Eric Trump-Linked Amerian Bitcoin Corp Raises $220M for Crypto Mining Push
Robinhood Launches Tokenized Stocks and Its Own Layer-2 Blockchain in Major EU Expansion
Quant Network Launches Quant Fusion for Interoperability
Kadena Launches Chainweb EVM Testnet with Over 50 Projects Committed