The Japanese giant increased its revenues years later thanks to Bitcoin.

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Metaplanet announced that it achieved its first consolidated operating profit seven years after its investments in Bitcoin. The company managed to increase its revenues by diversifying its financial strategies and generating income from Bitcoin sales options.

Japanese Investment Giant Breaks Record Thanks to Bitcoin

The Japanese investment company Metaplanet has achieved remarkable success with its Bitcoin-focused investment strategies. The company announced that it has managed to obtain operating profit for the first time since 2017.

Expecting revenues of 890 million Japanese yen (approximately 5.8 million dollars) by the end of the 2024 fiscal year, the company aims to significantly increase its revenue from last year's 261 million yen. The operating profit is projected to be 270 million yen. Although this figure shows a decline compared to last year, it is considered an important step in the company's recovery process.

A large portion of Metaplanet's revenues this year came from 520 million yen in Bitcoin sales options. After recognizing Bitcoin as a treasury asset in April, the company began to view the cryptocurrency as a hedge against depreciation.

Metaplanet, which is the parent company of Wen Tokyo Co., the owner of the Royal Oak Hotel in Tokyo's Gotanda district, announced on December 18 that it would create a new business line in the field of "Bitcoin accumulation and management." In this context, it plans to utilize various financial instruments such as loans, equity, and convertible bonds.

The company, which is the second largest institutional Bitcoin holder in Asia, owns 1,142 Bitcoins worth 119.4 million dollars. Metaplanet has also completed the acquisition of a media platform operating in the cryptocurrency space.

The company announced its plan for a fourth bond issuance of 30 million dollars and a public offering of a 5 billion yen ordinary placement bond on December 16 to increase its Bitcoin assets. By earning premiums from each option contract through its sales options strategy, Metaplanet will continue to purchase Bitcoin in option exercises.