Metaplanet, quickly ascending to one of the largest corporate Bitcoin holders, has announced significant increases in its reserves and new financial strategies.
Increasing Bitcoin Reserves
According to company president Simon Gerovich, the latest acquisition was made at an average price of $120,006 per coin. Since launching its accumulation plan in April 2024, Metaplanet has quickly risen to seventh place among the world’s largest corporate holders of Bitcoin, according to data from Bitcointreasuries. In total, the company has invested $1.94 billion, increasing its position to 18,888 BTC.
Financial Results and New Strategies
Metaplanet recently reported strong Q2 results, with revenue up 41% quarter-over-quarter to 1.2 billion yen ($8.4 million). Net income swung into the positive, reaching 11.1 billion yen ($75.1 million) after posting losses in the previous quarter. Alongside its financial results, the company introduced the ‘Metaplanet Prefs’ strategy to build a BTC-backed yield curve through perpetual preferred equity offerings.
Market Outlook and Bitcoin Forecasts
Despite the company’s bold moves, Metaplanet’s stock has faced turbulence, dropping 8.6% last Friday. Shares regained some ground on Monday, edging up 0.6% by midday. Gerovich acknowledged investor frustration over the pullback but stressed that recurring bitcoin income-generation has expanded for three consecutive quarters. Meanwhile, Bitcoin slipped 2.1% to trade near $115,305, with analysts suggesting it could consolidate around $105,000 before making fresh attempts at $118,000.
Metaplanet continues to actively expand its Bitcoin assets in a turbulent market while implementing new financial solutions.
