Metaplanet’s Crypto Portfolio Surges Following US Market Expansion
Metaplanet, a Japanese Bitcoin-focused firm, has made significant strides in expanding its crypto portfolio after its recent foray into the US market. The company, which is listed on the Tokyo Stock Exchange and trades on the US OTCQX Market as MTPLF, announced on Dec. 23 that it had acquired 619.70 BTC for 9.5 billion yen ($60.7 million). This purchase brings its total Bitcoin holdings to 1,761.98 BTC, currently valued at $169.2 million.
The recent Bitcoin purchase by Metaplanet follows its successful dual-tranche bond issuance between Dec. 17 and Dec. 20, where it raised 9.5 billion yen from EVO Funds to further bolster its BTC investments. This strategic move comes hot on the heels of the company’s listing on the US OTCQX Market on Dec. 19.
Despite these positive developments, Metaplanet’s stock value experienced a slight dip of 0.93% today, closing at $22.59 (3,540 JPY) as per data from Google Finance. Nonetheless, the company’s shares have seen an impressive increase of over 2000% year-to-date.
In addition to its stock performance, Metaplanet’s Bitcoin strategy has been yielding fruitful results. The company reported a yield of 41.7% between July and September 2024, which surged to an impressive 309.82% in the following quarter. These gains showcase the company’s adeptness at maximizing returns through its active Bitcoin investments.
Furthermore, Metaplanet has projected an astounding 240% increase in annual revenue for 2024, with earnings expected to reach $5.8 million (¥890 million). This marks a substantial turnaround from the previous year’s revenue of $1.7 million (¥261 million). The company also anticipates an operating profit of $1.8 million (¥270 million), rebounding from the $3 million (¥468 million) loss recorded in 2023.
CEO Simon Gerovich has highlighted the importance of the Shareholder Benefits Program, reminding investors that Dec. 26 is the final date to purchase shares to qualify for the program. The initiative, 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 relationship with its shareholders, with support from SBI VC Trade, a subsidiary of Japan’s financial giant SBI Holdings.
In conclusion, Metaplanet’s expansion into the US market and its robust Bitcoin strategy have positioned the company for continued success and growth in the evolving crypto landscape. Investors are encouraged to take advantage of the Shareholder Benefits Program before the deadline to reap the rewards offered by the company.