Metaplanet Enhances Strategic Bitcoin Holdings with Substantial Acquisition

By: Eliza Bennet

In a decisive move to solidify its position in the cryptocurrency market, Japanese investment firm Metaplanet has significantly bolstered its Bitcoin portfolio with a landmark acquisition. Listed on the Tokyo Stock Exchange and trading on the US OTCQX Market under the ticker MTPLF, the company announced on December 23, 2024, the purchase of 619.70 BTC for 9.5 billion yen, equivalent to approximately $60.7 million. This monumental transaction raises Metaplanet's total Bitcoin holdings to 1,761.98 BTC, valued at around $169.2 million.

The latest acquisition comes after successful financial strategizing, including a dual-tranche bond issuance between December 17 and December 20, which raised the necessary 9.5 billion yen from EVO Funds specifically for continued investment in Bitcoin. Metaplanet's strategy aligns with its recent expansion into the US market, marked by the start of its trading on the US OTCQX Market on December 19, 2024.

Despite this acquisition, Metaplanet's stock value experienced a minor decline, falling by 0.93% to close at $22.59, or 3,540 JPY. Nonetheless, the company remains on an upward trajectory, with its shares observing an over 2000% increase year-to-date. This growth underscores the effectiveness of its Bitcoin-focused investment strategy, which reported a yield of 41.7% between July and September 2024, escalating to an impressive 309.82% in the subsequent quarter.

Apart from investment maneuvers, Metaplanet has projected an optimistic financial outlook for 2024, anticipating an extraordinary 240% boost in annual revenue to $5.8 million or ¥890 million, a significant turnaround from the previous year's $1.7 million. Operating profits are also expected to climb to $1.8 million, recuperating from a $3 million loss recorded in 2023.

Further strengthening its ties with investors, Metaplanet has reminded stakeholders that December 26 is the final date to purchase shares to be eligible for the Shareholder Benefits Program. Launched in November, the program includes engaging incentives like a Bitcoin lottery, distributing 30 million yen worth of Bitcoin among 2,350 shareholders through a lottery system, aiming to attract long-term investors. This initiative is facilitated by a partnership with SBI VC Trade, associating Metaplanet with SBI Holdings, a leading financial entity in Japan.