Japanese investment firm Metaplanet announced its expected positive operational profit for the first time since 2017, crediting its active Bitcoin strategy and successful hotel business.
Financial Forecast for 2024
The Tokyo-based company anticipates an operating profit of ¥270 million, a significant improvement from a ¥468 million loss in the previous year. Total revenue is expected to reach ¥890 million, up from ¥261 million last year.
Bitcoin as a Growth Driver
Metaplanet earned ¥520 million from selling Bitcoin put options. The company began accumulating Bitcoin in April 2024 to hedge against currency depreciation and plans to expand holdings through various financial instruments.
Impact of Hotel Business
Strong performance in the hotel business has also played an important role in the company's financial recovery. The Wen Tokyo Co. subsidiary operates the Royal Oak Hotel in Tokyo, which has shown robust growth.
Metaplanet's strategies in Bitcoin and the hotel business significantly contribute to the company's financial recovery, anticipating the first operational profit since 2017. These areas remain key growth drivers for 2024.
