Japanese investment firm Metaplanet aims to significantly increase its Bitcoin holdings, with a goal to reach 10,000 BTC by the end of the year. Since April, it has steadily expanded its crypto reserves, building on its accumulation strategy.
On Sunday, CEO Simon Gerovich announced in an X post that the firm will achieve this goal “by utilizing the most accretive capital market tools available to us.”
Metaplanet started buying Bitcoin in April 2024, shifting its strategy to make Bitcoin a core treasury asset. This move reflects the approach of firms like MicroStrategy in the US. By adopting Bitcoin, the company aimed to offset yen volatility and address Japan’s economic challenges, especially its high debt.
Metaplanet to Leverage Partnerships for Greater Impact This Year
“Last year was transformational, as we broke records, expanded our Bitcoin treasury, and reinforced our position as Asia’s leading Bitcoin Treasury Company,” Gerovich said. “This year, we’re laser-focused on execution and driving even greater value for our shareholders.”
Additionally, he stated that Metaplanet would use its partnerships to propel Bitcoin adoption both in Japan and worldwide. Further, the company plans to seek out opportunities to expand Metaplanet’s influence within Japan and the broader Bitcoin ecosystem.
In November, the firm finalized an exclusive deal with BTC Media to launch Bitcoin Magazine in Japan. This partnership aims to provide high-quality, localized content for Japanese Bitcoin enthusiasts. It will also include interviews with prominent Japanese Bitcoin figures. Additionally, it plans to release special edition publications and host interactive online events.
Metaplanet Sees Record Bitcoin Buys, Revenue Growth and a Turnaround in 2024
According to Bitcoin Treasuries, Metaplanet holds 1,762 Bitcoin worth about $174.5m. On Dec. 23, 2024, the firm made its biggest purchase yet, acquiring 619.7 Bitcoin for roughly $60m. This deal far surpassed its previous record in October when its bought 159.7 BTC, nearly quadrupling that amount.
Metaplanet generates a large portion of its revenue from Bitcoin-related activities, particularly by selling Bitcoin put options. This strategy alone earned 520m yen, boosting the company’s financial outlook.
Additionally, its hotel business has strengthened its financial performance. Through its subsidiary, Wen Tokyo Co., Metaplanet operates the Royal Oak Hotel in Tokyo’s Gotanda district.
Last month, the Tokyo-based firm projected revenue of 890m yen ($5.8m) for the fiscal year ending Dec. 31, a sharp increase from last year’s 261m yen. It also expects an operating profit of 270m yen, a significant turnaround from the 468m yen loss in 2023.
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