On December 18, Japanese-listed company Metaplanet made a significant announcement: it will officially manage Bitcoin Treasury Operations as part of its evolving business strategy. This development was approved by the board of directors and signals the company’s commitment to integrate Bitcoin into its financial ecosystem.
The announcement, shared on social media platform X, follows a series of shareholder approvals and strategic initiatives designed to position Metaplanet as a leader in Bitcoin adoption and management. The company outlined that this new business segment will involve purchasing, holding, and managing the cryptocurrency through several financial instruments like loans, equity issuances, and convertible bonds.
An essential component of this venture includes tracking performance through BTC Yield as the primary metric. Additionally, Metaplanet plans to capitalize on Bitcoin’s volatility by generating premium income from selling Bitcoin put options. This will allow the company to drive revenue while leveraging its exclusive license for Bitcoin Magazine Japan to create new revenue streams through BTC-related marketing activities and educational initiatives. By synergizing these efforts, Metaplanet aims to solidify its position as Japan’s premier Bitcoin treasury company.
From a financial perspective, the Tokyo-based firm is on track to achieve its first consolidated operating profit in seven years, a feat accomplished shortly after adding Bitcoin to its balance sheet. In a separate disclosure on the same day, Metaplanet forecasted a revenue of 890 million yen (approximately $5.8 million) for the fiscal year ending December 31, marking a substantial increase from the previous year’s 261 million yen.
A notable contribution to this revenue came from the sale of Bitcoin put options, which generated around 520 million yen ($3.4 million). The investment firm also reported unrealized gains of approximately 7.446 billion yen ($48.6 million) on its Bitcoin holdings. This strategic pivot to treating Bitcoin as a treasury asset, initiated in April 2024 in response to a weakening yen, has prompted multiple capital-raising efforts.
These endeavors include securing $66 million through its 11th stock acquisition rights exercise in October, raising $11.3 million via a bond issuance in early November, and obtaining $62 million through its 12th stock acquisition rights. On December 16, the company issued a fourth bond valued at nearly 4.5 billion yen ($30 million) and announced plans for an additional 5 billion yen in private placement bonds. As of today, Metaplanet holds 1,018 BTC, roughly valued at $118 million.
With this bold step into Bitcoin treasury operations, Metaplanet is not just adapting to market changes; it’s actively shaping its future in the crypto ecosystem, ensuring its business strategy is intertwined with the dynamic landscape of the cryptocurrency market. More content in ZCrypto.
