Metaplanet, a Japanese Bitcoin-focused company, has significantly increased its cryptocurrency portfolio in response to the recent expansion of the US market.
On December 23, the company, which is listed on the Tokyo Stock Exchange and traded as MTPLF on the US OTCQX market, announced that it had acquired 619.70 BTC for 9.5 billion yen ($60.7 million). This purchase increases his total Bitcoin holdings to 1,761.98 BTC, with a current value of $169.2 million.
The company's latest Bitcoin purchase follows a dual-tranche bond issue from December 17th to December 20th, in which it raised 9.5 billion yen from EVO Funds to purchase additional BTC investments. This strategic move comes shortly after Metaplanet began trading on the US OTCQX market on December 19th.
Despite these developments, the company's stock fell 0.93% today to close at $22.59 (3,540 yen), according to Google Finance data. Despite this, the stock price is up over 2000% since the beginning of the year.
Apart from stock price performance, Metaplanet's Bitcoin strategy continues to pay off. During July-September 2024, the company reported a yield of 41.7%, which rose to a staggering 309.82% in the next quarter. These gains show that the company is maximizing its returns through active Bitcoin investment.
Furthermore, the company is forecasting a staggering 240% increase in annual sales in 2024, with revenue expected to reach $5.8 million (890 million yen). This was a significant recovery from last year's $1.7 million (261 million yen).
The company also expects operating profit to be $1.8 million (270 million yen), a recovery from the $3 million (468 million yen) loss recorded in 2023.
Incentives for investors
MetaPlanet CEO Simon Gerovich reminded investors that December 26 is the last day they can purchase shares to qualify for the company's shareholder benefits program.
According to him:
“Please note that the last day to purchase shares eligible for the shareholder benefit program is December 26th (last rights date).”
The program, which started in November, offers unique benefits, including the ability to apply for the Bitcoin Lottery, where 2,350 shareholders will be randomly selected to win Bitcoins worth 30 million yen. This is aimed at attracting long-term investors and strengthening shareholder engagement.
This initiative is supported by a partnership with SBI VC Trade, a subsidiary of Japanese financial giant SBI Holdings.
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