Metaplanet’s Bitcoin Bet Pays Off: $36M in Unrealized Gains as Stock Surges
Metaplanet (3350), the publicly traded Bitcoin-focused firm, has reported an unrealized gain of $36 million (5.46 billion yen) on its 1,761 BTC holdings, which were acquired for $137 million. The company credits its Bitcoin treasury strategy for positioning it among the best-performing equities in 2024.
Investor interest has surged, with Metaplanet’s shareholder base skyrocketing by 500% to reach 50,000 last year. The firm is doubling down on its Bitcoin accumulation plan, utilizing secured bonds, convertible bonds, private placements, and equity issuance to expand its holdings.
Metaplanet has set an ambitious target of holding 10,000 BTC by the end of 2025 and 21,000 BTC by 2026. To fund this expansion, it plans to issue 21 million shares via moving strike warrants while leveraging business cash flows and strategic financing.
The market has responded positively to Metaplanet’s Bitcoin-driven approach, with its stock climbing 8% on Monday and delivering a 64% gain year-to-date, reflecting growing confidence in its long-term BTC accumulation strategy.
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