Metaplanet continues to actively increase its Bitcoin holdings despite financial losses, highlighting confidence in its strategy amid rising cryptocurrency values.
Increase in Bitcoin Assets
On November 11, investment firm Metaplanet announced a $28 million increase in its Bitcoin assets. The company began acquiring Bitcoins at the start of 2024, and by mid-November, its Bitcoin holdings doubled to 1,018.17 BTC.
New Financial Metric
The 'Asia’s MicroStrategy' looks into Bitcoin options trading to generate premium income. In October, Metaplanet acquired a new metric similar to 'BTC Yield', serving as a KPI to assess the impact of Bitcoin purchases on shareholder returns.
Financial Results and Losses
Despite significant growth in Bitcoin holdings, Metaplanet recorded a net loss of $2.1 million from the start of the year to the end of September. Revenue increased by 46.3% due to the hotel business and digital asset ventures. More than $26.7 million was raised through stock issuance and bond offerings in 2024.
Metaplanet's current strategy showcases determination and confidence in Bitcoin investments despite temporary financial setbacks. The company aims to strengthen its market position by expanding its business assets and increasing capitalization.
