The Tokyo-listed investment firm Metaplanet (3350) reported an operating profit of 592 million yen (around $4 million) for the first quarter of 2025, largely due to its Bitcoin-focused revenue model.
With total revenue hitting 877 million yen, a significant 88% of that stemmed from Bitcoin options trading. This information was shared in their first quarter earnings report.
During the quarter, Metaplanet’s Bitcoin holdings surged to 6,796 BTC, surpassing a previous milestone of 5,000 BTC. The company is now 68% of the way to a target of 10,000 BTC, which it set on April 8, 2024, after implementing the Bitcoin standard.
This rapid accumulation has propelled Metaplanet to be the 11th largest public company worldwide and the leading one in Asia, even surpassing El Salvador in certain metrics.
To finance its Bitcoin purchases, Metaplanet issued bonds, sold shares, and offered stock warrants that become active only when share prices increase. Through these efforts, the company raised 86.1 billion yen, marking it as the largest public stock issuer in Japan to date.
The firm’s capital strategy utilizes operational cash flow and market-generated funds to bolster their Bitcoin reserve, which has seen a 170% increase since the start of the year.
In the latest trading session, Metaplanet stocks dipped by 2.47%, bringing the price to 593 yen each. Despite this drop, the company’s shares have risen by 65.8% since the year’s beginning, while Bitcoin saw an increase of 8.45% during the same timeframe.
