Metaplanet Doubles Down: Bitcoin Treasury Expansion Signals Bullish Bet
Metaplanet just loaded up on more Bitcoin—and they’re not being subtle about it. The Tokyo-based firm’s latest treasury move screams confidence in crypto’s flagship asset, even as traditional finance pundits clutch their pearls.
Why This Matters
Corporate Bitcoin holdings aren’t new, but aggressive accumulation during market turbulence? That’s a statement. Metaplanet’s buying spree suggests they’re either seeing something others aren’t—or they’ve got a serious case of ‘number go up’ fever.
The Bigger Picture
While Wall Street debates ETF flows and rate cuts, crypto-native players keep stacking sats. Maybe they know something Jamie Dimon’s coffee boy hasn’t briefed him on yet.
One thing’s clear: when companies treat Bitcoin like a strategic reserve asset, it’s not just ‘play money’ anymore—no matter what the suits in Zurich say.
Metaplanet, a Japanese Bitcoin
$115,456 treasury firm, announced on Monday the purchase of an additional 775 bitcoins for $93 million, with an average cost of $120,006 per bitcoin. This transaction escalated the company’s total Bitcoin holdings to 18,888 BTC, amounting to a cumulative expenditure of $1.94 billion. Metaplanet’s overall average purchase price now stands at $102,653. In a celebratory post on his personal social media account, President Simon Gerovich lauded the acquisition with the message, “18,888 BTC. Forward and upward.”
Metaplanet’s Bitcoin Holdings Surge
Gerovich publicly announced the latest Bitcoin purchase on Monday, reiterating the company’s positive outlook on the leading cryptocurrency. Initiated in April 2024, Metaplanet’s Bitcoin accumulation program has gained significant momentum with this acquisition, bringing its total position size to 18,888 BTC at an average cost of $102,653 per unit.
According to data from Bitcointreasuries, Metaplanet ranks seventh among companies with significant Bitcoin treasuries. The management maintains that these purchases are underpinned by sustainable revenue streams.
The Company’s Profitability Outlook
Last week’s second-quarter report revealed that the company earned a total revenue of 1.2 billion yen ($8.4 million), marking a 41% increase on a quarterly basis. Metaplanet turned a profit with a net income of 11.1 billion yen ($75.1 million), rebounding from a first-quarter loss of 5 billion yen ($34.2 million).
The management remains steadfast in their projection for year-end revenues of 3.4 billion yen and operating income of 2.5 billion yen, supported by premiums from cash-secured put options and operational performance.
In market developments, Metaplanet’s shares closed down 8.6% at 866 yen in Japan on Friday, with a subsequent 0.6% rise by midday Monday. Gerovich acknowledged the recent stock pullback but emphasized the sustained growth in Bitcoin revenue generation over the past three quarters, which aids the treasury accumulation and provides flexibility for potential future financings.
According to CryptoAppsy’s data, Bitcoin traded at $115,273, reflecting a 2.32% drop in the past 24 hours.
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