The post Metaplanet Bitcoin Holdings Skyrocket, Fueling Record-Breaking Profits in 2024! appeared first on Coinpedia Fintech News
Metaplanet Inc. (Tokyo: 3350), a Japanese company that manages a hotel and has laid more focus on Bitcoin (BTC) strategy, has released its yearly financial performance. The mid-cap company has registered its best yearly earnings results since 2017, catalyzed by its sporadic Bitcoin purchases in the past year.
The company has followed in the footsteps of MicroStrategy Inc. (NASDAQ: MSTR), which currently owns more than 2 percent of the total Bitcoin supply. With Bitcoin being the best-performing global currency and commodity, Metaplanet is well-positioned to register better performance in the coming years.
Closer Look at 2024 Performance for Metaplanet
During the period between January 1, 2024, and December 31, 2024, Metaplanet’s stock market rallied more than 1,947 percent to trade at about ¥3,480, during the last day of the year. The company reported a spike of over 388x in traded volume year over year, fueled by the rising demand from its more than 50k shareholders.
Currently holding about 1,761 Bitcoins, Metaplanet has risen to the 15th publicly traded company in BTC troves.
Bitcoin adoption by institutions is on the rise—read Bitcoin price prediction to understand how this trend could shape its future value!
As a result, Metaplanet is on track to report the first annual consolidated operating profit since 2017 of around ¥270 million on revenue of about ¥890 million in 2024.
Some of the notable achievements by Metaplanet made possible through the Bitcoin adoption plan include the license for Bitcoin Magazine Japan, which will be launched in Q1 2025. The company’s stock market was listed on the OTCQX platform under the ticker MTPLF to expand its access to global investors.
Market Impact
The continued adoption of Bitcoin by institutional investors has played a major role in the ongoing macro bull market. Despite the ongoing crypto correction, Bitcoin price is projected to rally towards $200k in 2025 as nation-states led by the United States set the pace for Bitcoin adoption.
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