Metaplanet, a Tokyo-based investment firm, is set to achieve its first consolidated operating profit since 2017, thanks to its strategic pivot to Bitcoin. According to a report on Cointelegraph, the firm projects revenue of 890 million yen ($5.8 million) for the fiscal year ending December 31, 2024, a significant jump from 261 million yen the previous year. This turnaround is largely driven by the sale of Bitcoin put options, generating 520 million yen in income. Combined with strong performance from its hotel business, Metaplanet expects an operating profit of 270 million yen, marking a reversal from its 468 million yen loss in the prior year.
In April, Metaplanet adopted Bitcoin as a treasury asset to hedge against currency depreciation. The firm now plans to expand its Bitcoin strategy by establishing "Bitcoin accumulation and management" as a new business line. This initiative involves using loans, equity, and bonds to acquire Bitcoin, alongside put option sales as a revenue driver. Additionally, Metaplanet recently acquired the license to operate a Japanese version of Bitcoin Magazine, further diversifying its Bitcoin-related activities.
Metaplanet currently holds 1,142 BTC, valued at around $119.4 million, making it the second-largest corporate Bitcoin holder in Asia after Boyaa Interactive. To further its Bitcoin acquisition, the company issued its fourth bond worth 4.5 billion yen ($30 million) and plans an additional 5 billion yen bond issuance. These moves signal Metaplanet's commitment to leveraging Bitcoin not just for treasury management but as a core part of its growth strategy.
Read more: MicroStrategy's Bitcoin Holdings and Purchase History: A Strategic Overview