2024

Bitcoin

when

Metaplanet, an investment firm based in Tokyo, is expected to record its first consolidated operating profit in seven years as it continues to improve its financial position. The firm claimed that it has shifted its focus to Bitcoin as the leading cryptocurrency, which has been profitable, especially with the current price increases. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 *Metaplanet Projects First Fiscal Year Operating Profit Since 2017* <a href="https://t.co/oYNKOtNatR" rel="nofollow" target="_blank">pic.twitter.com/oYNKOtNatR</a> 
 — Metaplanet Inc. (@Metaplanet_JP) <a href="https://twitter.com/Metaplanet_JP/status/1869172010506727560?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">December 18, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Metaplanet <a href="https://twitter.com/Metaplanet_JP/status/1869172010506727560" rel="nofollow noopener" target="_blank">expects an operating income </a>of ¥270 million ($1.8 million) for the year ending December 31, which is an improvement from the ¥468 million ($3.1 million) loss it made the previous year. Sales are also forecast to increase at a much faster pace – from ¥261 million ($1.7 million) to ¥890 million ($5.8 million). 
<h3 id="span-style-font-weight-400-bitcoin-treasury-management-powers-growth-span">Bitcoin treasury management powers growth</h3> 
Metaplanet has attributed a lot of its success to its focus on Bitcoin, especially through Bitcoin put options trading. The company has projected that it will earn ¥520 million ($3.4 million) from put options only. 
Put options allow Bitcoin investors to sell the digital currency at a specific price providing both protection and profit-making chance. Metaplanet stands to benefit from earning premiums on these contracts and, when exercised, receiving more Bitcoin. This has helped it to increase the number of Bitcoins it has and also helped it to generate revenue. 
The company currently holds 1,142 Bitcoin worth ¥17.6 billion or $119.4 million as of now, and this makes the firm the second largest corporate holder of Bitcoin in Asia. It goes further than simple trading, as the company has announced that it will create a separate “Bitcoin accumulation and management” business. 
Besides treasury management, Metaplanet has expanded its activities in the Bitcoin sphere. Recently, the company <a href="https://x.com/Metaplanet_JP/status/1860836852799775160" rel="nofollow" target="_blank">obtained a license</a> to launch a Japanese edition of Bitcoin Magazine, which has become a new player in the digital asset media market. This could open up new income streams since the use of Bitcoin is on the rise in Japan and the rest of the world. 
The deal was announced in July at the Bitcoin Conference in Nashville, which was attended by the former US President, Donald Trump. Metaplanet is set to officially launch Bitcoin Magazine Japan in the first quarter of 2025. Bitcoin Magazine was launched in 2012 by Buterin and others and is one of the earliest outlets focused on Bitcoin.&nbsp; 
In a bid to strengthen its position, Metaplanet has <a href="https://www.cryptopolitan.com/metaplanet-issues-4-5-billion-yen-bonds-for/">offered ¥9.5 billion ($64.5 million) in bonds</a> to increase its Bitcoin reserves. The company intends to use both debt and equity as capital to facilitate the accumulation strategy in the business. 
Besides Metaplanet, other companies that have been actively accumulating Bitcoin include MicroStrategy. This week only, <a href="https://www.cryptopolitan.com/microstrategy-pause-bitcoin-purchase-january/" target="_blank" rel="noopener">MicroStrategy acquired</a> 15,350 Bitcoin for about $1.6 billion and now holds 439,000 Bitcoin in its portfolio with a total value of over $46 billion. 
<a href="https://www.cryptopolitan.com/crypto-career-launchpad-waitlist/?utm_source=cryptopolitan&amp;utm_medium=banner&amp;utm_campaign=ccl-waitlist-1" target="_blank">A Step-By-Step System</a> To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Metaplanet records first profit in seven years, driven by Bitcoin strategy

Table of Contents

Cryptopolitan_News

Other articles published on Dec 18, 2024

BREAKING: FED Chairman Jerome Powell Talks About Strategic Bitcoin Reserve in the US

YouTube to start detecting fake AI-generated content

Lido Finance Achieves Profitability for the First Time in Its Fourth Year

Messari Report: Rootstock Achieves Record Growth in Q3 2024

CoinZoom Issues Over 114,000 Crypto Visa Debit Cards in Less Than One Month (18 Dec)

4,999,999,999 DOGE Withdrawal Stuns Binance, Shiba Inu Goes From Billion to 13 Trillion SHIB, Rip...

Join our free newsletter for daily crypto updates!