On December 18, 2024, Tokyo-based investment firm Metaplanet announced it anticipates its first consolidated operating profit in seven years, projecting revenues of 890 million Japanese yen ($5.8 million) for the fiscal year ending December 31, 2024. This is a significant increase from 261 million yen in the previous year. The company expects an operating profit of 270 million yen, a turnaround from a loss of 468 million yen last year.
A major contributor to this revenue is the sale of Bitcoin BTC $104,001 put options, which generated 520 million yen. Metaplanet, which pivoted to Bitcoin in April 2024, aims to formalize its 'Bitcoin accumulation and management' as a new business line, employing various financial instruments to optimize its Bitcoin holdings.
Currently, Metaplanet holds 1,142 Bitcoin, valued at approximately $119.4 million, making it the second-largest corporate Bitcoin holder in Asia. The firm also plans to issue bonds totaling 9.5 billion yen ($60 million) to further increase its Bitcoin reserves.