Metaplanet, a Tokyo-based investment firm, is set to report its first consolidated operating profit in seven years, thanks to its strategic pivot to Bitcoin.
This milestone comes just months after the company added Bitcoin to its balance sheet in a bid to hedge against currency devaluation.
With Bitcoin price hitting multiple all-time highs lately, Metaplanet is reaping the benefits of its newfound focus on the digital asset.
On December 18, Metaplanet announced that it is expected to record a profit for the fiscal year ending December 31. This marks the first time since 2017 that the company will register profits after 7 years of losses.
The company forecasts revenue to surge to ¥890 million ($5.8 million), marking a substantial jump from ¥261 million ($1.7 million) the previous year.
In addition, Metaplanet projects an operating profit of ¥270 million ($1.8 million), a striking turnaround from the ¥468 million ($3.1 million) loss it reported in the last fiscal year.
Much of this growth can be attributed to the company’s adoption of Bitcoin in its balance sheet, which includes trading Bitcoin put options.
Bitcoin Strategy: A Key Revenue Driver
Metaplanet’s success can be largely traced to its Bitcoin-related activities. According to Metaplanett, the company’s Bitcoin treasury management strategy has not only boosted its balance sheet but also generated considerable revenue through put options.
In the current fiscal year, Metaplanet expects to generate ¥520 million ($3.4 million) from selling Bitcoin put options, the company stated.
This approach has allowed Metaplanet to capitalize on the rising value of Bitcoin. All this, while offering investors the ability to lock in minimum selling prices for their holdings.
Put options are contractual agreements that allow investors to sell Bitcoin at a pre-agreed strike price. For Metaplanet, this means earning a premium for each contract sold, regardless of whether the options are exercised.
If exercised, the company can purchase Bitcoin, further bolstering its BTC stash. This strategy has positioned Metaplanet to benefit from Bitcoin’s price swings while minimizing risk exposure.
Metaplanet is also formalizing its Bitcoin-focused business model. The firm revealed plans to create a dedicated “Bitcoin accumulation and management” business line.
It will involve leveraging various financial instruments such as loans, equity, and convertible bonds to further accumulate Bitcoin. Additionally, Metaplanet plans to continue using put options as a key revenue generator.
The company’s commitment to Bitcoin extends beyond treasury management. Metaplanet recently acquired a license to operate a Japanese version of Bitcoin Magazine. This marked its entry into the growing Bitcoin-related media space.
The move could open up new revenue streams as Bitcoin adoption continues to rise in Japan and around the world.
Positioning for Future Growth
According to Bitcoin Treasuries, Metaplanet’s Bitcoin holdings now total 1,142 BTC, valued at approximately ¥17.6 billion ($119.4 million).
This places the firm as Asia’s second-largest corporate Bitcoin holder, behind Boyaa Interactive. The company’s focus on Bitcoin also positions it for future growth as Bitcoin continues to gain mainstream traction.
The firm’s recent bond issuances—totaling ¥9.5 billion ($64.5 million) in December—further demonstrate its commitment to expanding its Bitcoin holdings.
The transformation of Metaplanet’s balance sheet from a loss-making firm to a profitable one is a testament to the power of Bitcoin as a strategic asset.
As more companies adopt similar Bitcoin strategies, Metaplanet’s success could serve as a blueprint for others in Asia looking to tap into the growing digital asset market.
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